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Russian Ministry of Defense: 37 Ukrainian drones destroyed in 4 hours over regions of Russia and the Black Sea.
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
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Turkish inflation hits highest rate since 1998 at 73.5%

  • By Al Mayadeen English
  • Source: Agencies
  • 3 Jun 2022 13:30
2 Min Read

Reaching the highest inflation rate, Turkey faces unprecedented numbers, and the President struggles before next year's elections.

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  • Turkish inflation hits highest rate since 1998 at 73.5%.
    Turkish inflation hits the highest rate since 1998 at 73.5%.

Turkey's inflation rose to its highest level since 1998 in May, reaching 73.5% on an annual basis, according to official figures released Friday, a problem that President Recep Tayyip Erdogan is grappling with ahead of next year's elections.

Critics have blamed the country's economic troubles on Erdogan's unconventional economic policy of lowering interest rates to prevent price increases.

Last week, the central bank refused to boost its key interest rate, leaving it at 14%. Food and energy price increases pushed inflation much higher last month.

In May, transportation prices increased by 107.6%, while food prices increased by 91.6%.

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The country's military offensive in northern Syria weakened the Turkish lira, which was trading at 16.49 to the dollar on Friday. Over the last year, the currency has lost approximately 48% of its value.

Moreover, the opposition and many economists have accused the national statistics agency of deliberately underestimating the magnitude of inflation.

The Inflation Research Group said on Friday that inflation reached a 160.8% high, more than twice the official figure.

In April, Turkey's official inflation rate was above 70%, posing a significant challenge to President Recep Tayyip Erdogan's government.

According to the national statistics office, the consumer price index increased by 69.97% year on year in April, compared to 61.14% in March.

  • Turkey
  • Recep Tayyip Erdogan
  • Turkish inflation

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