Even if monthly price increases ease to an average of 5% in the coming months, Turkey would face an annual consumer inflation of over 100% in the fall and finish the year with a rate of some 90%.
Turkey’s President Recep Tayyip Erdogan might be aiming to tighten his grip on the domestic front, taking advantage of Ankara’s rising profile amid the Russian invasion of Ukraine.
U.S. President Joe Biden met with his Turkish counterpart Recep Tayyip Erdogan on the sidelines of the G20 meeting in Rome on Sunday amid a request from Turkey for F-16 fighter jets and tension over human rights.