A Uniquely Turkish Disease:  High Chronic Inflation

  • In June 2021, Turkish CPI rose to 17.5% YoY.


  • Turkey is among the top ten of high-inflation countries


  • Double-digit inflation is extremely costly for society.


  • The main reason why Turkey can’t beat inflation is President Erdogan’s strange views on monetary policy and capital investment


  • Inflation is likely to rise further throughout the year, dooming Turkey to “stagflation” as long as Erdogan is in power.


  • It is also the number one reason for TL to depreciate continuously.


  • Can Turkish inflation be cured?


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Published By: Atilla Yeşilada

GlobalSource Partners’ Turkey Country Analyst Atilla Yesilada is the country’s leading political analyst and commentator. He is known throughout the finance and political science world for his thorough and outspoken coverage of Turkey’s political and financial developments. In addition to his extensive writing schedule, he is often called upon to provide his political expertise on major radio and television channels. Based in Istanbul, Atilla is co-founder of the information platform Istanbul Analytics and is one of GlobalSource’s local partners in Turkey. In addition to his consulting work and speaking engagements throughout the US, Europe and the Middle East, he writes regular columns for Turkey’s leading financial websites VATAN and www.paraanaliz.com and has contributed to the financial daily Referans and the liberal daily Radikal.