Tag Archives: Consumer prices

Turkiye announced a significant reduction in taxes on basic food supplies Saturday to counter soaring inflation while also unveiling a new credit guarantee fund package and a new model to bring “under-the-mattress” gold into the economy. President Recep Tayyip Erdoğan said the value-added tax (VAT) would be lowered to 1% …

Turkey posted a 14.97% annual rise in consumer prices in January, the country’s statistical authority announced on Feb. 3.  The annual figure was up 0.37 percentage points last month, rising from 14.60% in December 2020, according to the Turkish Statistical Institute (TÜİK). The inflation rate in January 2020 stood at 12.15%, data showed. …