Turkey Inflation Data Shows Annual 70% CPI Increase, Bitcoin Fixes This Today

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  • Turkey released data analyzed by the Turkish Statistical Institute showing 70% CPI annual inflation.
  • Transportation costs suffered the highest annual increase with 105% inflation.
  • The month-over-month data shows a CPI increase of 7.25%.

Turkey released inflation data analyzed by the Turkish Statistical Institute showing inflation is at a two-decade high with the consumer-price-index (CPI) rising almost 70%, which is a problem bitcoin can fix.

Transportation, which would include the prices of fuel, suffered an annual rise of 105.86%. Meanwhile, food and nonalcoholic beverages rose 89.10%, paired with a 77.64% annual increase for furnishings and household equipment. These were among the highest vectors reported, but even the lowest numbers are staggering.

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