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Turkey's inflation rate hits fresh 24-year high
Turkey's inflation rate hits fresh 24-year high
Business and Economy
by  AFP

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday, after the central bank cut interest rates despite surging prices. Turkey's monetary policymakers are bucking the global trend of central bank raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices.