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Business

As prices soar in Turkey, poverty and discontent deepen

The Turkish lira has been hitting all-time lows against the US dollar and the euro in recent months and inflation is soaring, but President Recep Tayyip Erdogan is unfazed.

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The cost of basic goods continues to soar in Turkey, and more people are struggling to make ends meet.

As prices soar in Turkey, poverty and discontent deepen 16.12.2021

A woman buys fish at a market in Ankara on December 20, 2021 as Turkey's troubled lira nosedived today after Turkish President cited Muslim teachings to justify not raising interest rates to stabilise the currency. - Erdogan has pushed the central bank to sharply lower borrowing costs despite the annual rate of inflation soaring to more than 20 percent. Economists believe the policy could see consumer price increases reach 30 percent or higher in the coming months. (Photo by Adem ALTAN / AFP)

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