Inflation in Turkey: Erdoğan Describes it as "Temporary"

Turkish President Recep Tayyip Erdoğan stated on Monday that the rise in inflation in Turkey is temporary and the government is discussing measures to address the increase in the cost of living. Following the weekly Cabinet meeting, Erdoğan noted that some economic indicators show improvement and urged the Turkish people to be patient and have faith in the government. Inflation in Turkey rose to 47.8% in July and is expected to reach around 60% by the end of the year due to tax increases and the depreciation of the Turkish lira against other currencies.