SHOCKER!!! Turkish inflation is 113%–video


A recent survey Koc University and polling agency KONDA reported that participants think consumer inflation is 113% vs official data of 75% in May. A debate has started among economists whether this measure is accurate. If the debate reaches the general public, President Erdogan and Central Bank are in deep trouble.


In Turkey, wages, salaries and pensions are hiked regularly to compensate the recipients for past inflation. But, WHICH inflation? The survey results will add fuel to the raging controversy about official inflation figures being lowballed to suppress inflation and lower fiscal expenditures at the expense of condemning every increasing number of low-income citizens to poverty. Monetary policy will have to be tightened further.

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 and has contributed to the financial daily Referans and the liberal daily Radikal.