Turkey’s December inflation slows to 64% in boost to Erdogan

ANKARA, Turkey (AP) — Official data show that inflation in Turkey has slowed in December thanks mainly to technical reasons. The development could help President Recep Tayyip Erdogan’s standings ahead of elections but is unlikely to bring relief to households suffering from a cost of living crisis. The Turkish Statistical Institute said Tuesday consumer prices for the year rose by 64.27% in December, down from 84.39% reported in November. It’s the second month in a row that inflation has eased after hitting a 24-year high of 85.5% in October. The fall is attributed to a base effect, with a high index from a year ago statistically bringing the inflation rate down.