Turkey: Real inflation at 43%

Renown professor-economist Steve Hanke said that real inflation in Turkey is 43% and added: “Do not be fooled by about 20% of the reports by the Erdogan government. TÜİK (Turkish Statistical Service) measurements are not reliable.

Hanke, who is a professor at John Hopkins University and was a White House financial adviser on Ronald Reagan, said in his post: “Turkey’s annual inflation on 13/4/2019 was not measured correctly, annual inflation is 43%. . Do not be fooled by the Erdogan governmen’s statements of 20%. TÜİK’s measurements are not reliable.

Hanke posted a chart that reflects official and real inflation.

Hanke in a post he made on the “reform package” announced by Economy and Finance Minister Berat Albairaq and the $ 5 billion (28 billion lira) package to support banks said: the $ 5 billion of Erdogan’s support for Turkey’s sinking banks is a move that is too little and comes too late. As long as a currency board is not set up, nothing will work, with inflation at 40% and with the pessimistic and half-cooked lira being an anchor for the economy. ”