19:48, 5 February 2024

YEREVAN, FEBRUARY 5, ARMENPRESS. The Turkish economy continues struggling with sky-high inflation. The year-on-year headline inflation rate touched 64.86% in January, up from December's 64.77% and more than analyst estimates of 64.52%. It was also the highest figure since November 2022, reports Euronews.

Month-on-month inflation came in at 6.7%, a large step up from December's 2.93%, as well as slightly above market consensus of 6.49%.

It is noted that, however, core inflation for the month of January, which excludes volatile food and energy prices, clocked in at 70.48%, down from 70.64% in December.