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EconomyJan 03, 2022 12:28PM ET
© Reuters. FILE PHOTO: People shop at a local market in Fatih district in Istanbul, Turkey January 13, 2021. Picture taken January 13, 2021. REUTERS/Murad Sezer
ISTANBUL (Reuters) – President Tayyip Erdogan said on Monday he was saddened by Turkey’s 2021 annual inflation after it soared to 36.1%, adding his government was determined to lower it to single digits.
Speaking after a cabinet meeting, Erdogan also said the rise in inflation was due to an increase in global commodity prices and a decline of the lira, which lost nearly 44% of its value last year.
He also said authorities would inspect exorbitant price rises and announced additional support for civil servants’ and pensioners’ wages.
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