Financial crises

Annual inflation in Istanbul hits 75 percent

Retail prices rose by 74.88 percent in December 2023 from a year ago in Istanbul, accelerating from the annual increase of 73.89 percent in the previous month, the data from the Istanbul Chamber of Commerce (İTO).

The pace of month-on-month increase in retail prices slowed from 3.79 percent in November 2023 to 3.52 percent last month.

Turkish stock exchange hopeful of 2024

In 2023, the BIST100 index remained below the performance of 2022 and inflation, but there is a premium of about 35 percent. The policy based on high-interest rates, which changed with the new economic management after the elections, mobilized alternative markets. Interest rates, foreign exchange and gold protected investors relatively from inflation compared to the stock market.