Turkish Inflation Hits 54%

“Turkish prices rose at their fastest rate in 20 years in February as the lira tumbled and food and energy prices surged, stirring discontent about the state of the economy,” the Financial Times reports.

“President Recep Tayyip Erdogan, who calls himself an ‘enemy of interest rates,’ triggered a collapse in the currency at the end of last year when he ordered the central bank to aggressively cut borrowing costs despite soaring inflation.”