Inflation in Turkey reached 78.6% annually in June – the highest in almost 25 years, according to official data provided by the Turkish Statistics Institute. But many Turks no longer trust official figures and believe inflation to be much higher. Independent experts say the real inflation rate could be more than 175%. Turkey is one of the world's largest economies and grew rapidly every year up until recently. Why is it now driving itself into a hyperinflation crisis?
About Us- Fair Observer is an independent nonprofit media organization that has published over 2,500 voices from over 90 countries, including statesmen, retired military officers, former diplomats, and leading professors, along with some of the brightest young public intellectuals from around the world.