Turkey's Inflation Rate Soars to a Record High of 85.51%

A few days ago, the Turkish Statistical Institute released data that the country's consumer price index (CPI) in October rose by 85.51% year-on-year,

setting a record high in 24 years.  Turkey's inflation rate has been rising rapidly since the second half of last year,

which coupled with the Russian-Ukrainian conflict and loose monetary policy, has led to a sharp depreciation of the lira