Turkey inflation slows to 64% in boost to Erdogan

ANKARA, Turkey (AP) — Official data show that inflation in Turkey has slowed in December thanks to a favorable base effect. The development could help President Recep Tayyip Erdogan’s standings ahead of elections but is unlikely to bring relief to households suffering from a cost of living crisis. The Turkish Statistical Institute said Tuesday consumer prices for the year rose by 64.27% in December, down from 84.39% reported in November. It’s the second month in a row that inflation has eased after hitting a 24-year high of 85.5% in October. The fall is attributed to a base effect, with a high index from a year ago statistically bringing the inflation rate down.