Turkey’s inflation skyrocketed in December, reaching a 19-year high after the free fall of the Turkish Lira.

More specifically, consumer inflation increased to 36.08% on an annual basis, which is the fastest rate since September 2002, while significantly exceeding 21.31% in November.

The rate was also significantly higher than the average inflation estimate of 27.36% of the 19 analysts surveyed by Bloomberg.

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