The inflation rate in Turkey in July amounted to 79.6% compared to 78.62% a month earlier, the National Institute of Statistics said on Wednesday.

According to the independent Inflation Analysis Group, it rose to 176.04% compared to 175.55% in June.


Since December last year, the Turkish authorities have been pursuing the so-called new economic policy, which focuses on strengthening the Turkish lira. Since then, the Turkish Central Bank has kept the weekly repo auction rate unchanged at 14%, although many local economists are talking about the need to increase it. The national Turkish currency has depreciated by more than 25% since the beginning of the year, and this trend, according to economists, will continue.