World Economy

Turkey Battling Inflation

Turkey Battling InflationTurkey Battling Inflation

Turkey’s main economic challenge this year will be battling inflation amid a continuing increase in the rate, according to Turkish Deputy Prime Minister Mehmet Simsek, Anadolu Agency reported. “The general trend in the inflation rate is not at desired levels and our inflation performance is relatively poorer than our general macroeconomic performance…We need to maintain solid steps in the fight against the rising inflation rate in 2016. This target can be achieved,” he said in a televised interview with NTV Monday. Consumer prices rose 8.81% year-on-year in December 2015, above estimates, data from the Turkish Statistics Institute showed on Jan. 4.