Turkey’s consumer price index increased 24.52 percent in September year-on-year, the Turkish Statistical Institute (TÜİK) revealed on Oct. 3.
Consumer inflation in September has increased by 6.30 percent in comparison with the previous month and by 24.52 percent in comparison with the same month last year. As for the annual producer inflation, it has increased by 46.15 percent, hitting a 16-year high.
Credit rating agency Fitch has downgraded the “long-term foreign-currency issuer default ratings” of 20 Turkish banks, and viability ratings of 12 banks, citing mounting risks confronting the sector in the wake of the recent currency turmoil.
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