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International Business Times
International Business Times
Business
AFP News

Turkey's January Inflation Piles Pressure On Central Bank

Inflation Turkey Mehmet Simsek Recep Tayyip Erdoğan Minimum Wage
Inflation remains a pressing issue for President Recep Tayyip Erdogan's government ahead of local elections in March (Credit: AFP)

Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped sharply following a huge minimum wage hike, official data showed Monday.

The year-on-year inflation rate moved to 64.86 percent -- up a notch from 64.77 percent in December, the TUIK statistics agency reported.

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