ISTANBUL, April 4 — Turkey’s inflation hit a new record in March, official data showed today, driven up by the fallout from Russia’s invasion of Ukraine and soaring energy prices.
The weakening lira and the rising cost of living has become a major source of public discontent in Turkey as President Recep Tayyip Erdogan faces an election next year. The war in its Black Sea neighbourhood has had a major impact on Turkey as Russia is a key supplier of energy while Ukraine ships wheat. Turkish tourism industry also mainly relies on Russian tourists.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: