Putin speaks on decline in inflation in Türkiye
The Russian President congratulated the Turkish leadership on the decline in inflation in the country. He recalled that the inflation rate is currently below 50%.
Inflation
Georgia's inflation rate declines in September
The monthly inflation rate in Georgia amounted to 0.3% in September, while the annual figure stood at 0.6%, the National Statistics Office said. Prices for services in education increased by 4.4% month-on-month, contributing 0.22% …
Russia raises key rate to 19%
According to the decision of the Russian Central Bank's Board of Directors the key rate has been raised from 18% to 19%. In a press release, the Central Bank warns that the rate may be raised again at the next meeting.
Food prices rise in Armenia for first time in a year
Food prices have risen slightly in Armenia. Food prices are rising for the first time in more than a year, the EDB reports. However, overall inflation does not exceed the Central Bank's target.
Türkiye scares off tourists with its prices
Tourists from all over the world have begun to choose an alternative to Türkiye. The reason for this is the prices in the Turkish hotels and restaurants, which have almost doubled this year. They are much higher than even the galloping inflation in the country, the media writes.
Türkiye keeps interest rate at 50%
The discount rate remained unchanged in Türkiye. The decision was made by the Central Bank of the country. The rate will remain at 50%.
Azerbaijan lowers refinancing rate
The Central Bank of Azerbaijan lowered the discount rate today from 8% to 7.75% According to the bank, the top limit of the interest rate …
Turkish inflation quickens to highest level in 2023
Turkey’s consumer inflation accelerated to its highest level this year as household energy use exceeded state support for natural gas consumption. Prices rose an annual 62% through November. Monthly inflation was 3.28%, …
Türkiye raises minimum wage again
For the second time in 6 months, Türkiye will increase the minimum wage. It will grow by 34% from July 1. This decision will increase the purchasing power of citizens.
Bank of Russia forces 4-percent inflation
Inflation in Russia will return to target levels in 2024. In 2023, inflation will range from 4.5 to 6.5%
IMF expects global inflation to slow down
At the World Economic Forum in Davos, Gita Gopinath, deputy managing director of the IMF, signalled that the fund would upgrade its economic forecasts. Instead of predicting a “tougher” 2023, she now expected an …
Qatar inflation surges 6% following World Cup hosting
Qatar’s inflation surged 5.93 percent year-on-year in December 2022 largely as a result of a rise in the prices of recreation and culture, according to data from the Planning and Statistics Authority. …
Egypt to sell discounted bread to fight inflation
Egypt’s government will start selling discounted bread to people not enrolled in its bread subsidy program as it battles accelerating inflation, the supply minister Ali Moselhy said. …
Eurozone inflation hits record breaking 10.7% in October
Inflation in the Euro area in October set another record reaching 10.7% year-on-year, statistical agency Eurostat announced on Monday. "Euro area annual inflation is expected to be 10.7% in October 2022, up from 9.9% in …
Fitch improves Azerbaijan's 2022 GDP growth forecast
The international rating agency Fitch Ratings improved the forecast for Azerbaijan's GDP growth from 3.6% (April forecast) to 4.3% in 2022. In 2023-2024, the country's GDP growth is expected to be at the level of 2.3% per …
German annual inflation rate hits record-high in September
Germany’s annual inflation rate stood at 10% in September, the highest on record since the country’s reunification in 1990, according to official data released on Thursday. “Enormous price rises for energy products …
Russia’s annual inflation down to 13.49%
Annual inflation in Russia slowed down to 13.49% from September 27 to August 3 from 13.71% a week earlier, the Russian Ministry of Economic Development says in its price review. "The moderate price increase was registered over the …
Egyptians turn to credits
In the past, locals used to buy only durables in installments
Turkey's inflation hits new 24-year high beyond 80%
Turkey's annual inflation climbed to a fresh 24-year high of 80.21% in August, a bit below expectations according to official data,after the central bank unexpectedly cut interest rates and stoked a cost-of-living crisis. Despite …
Euro zone annual inflation hits new record high in July
The Euro zone annual inflation hit a new record high of 8.9% in July, up from 8.6% in June, according to official figures on Thursday. The figure was 2.5% last year. The highest contribution to the annual euro area inflation …
