Inflation in TRNC reached its highest level since the year 2000

Inflation in North Cyprus has risen to its highest level since the early 2000s according to report by state broadcaster, BRT.

Prices have reached record levels partly owing to shortage of supplies caused by the pandemic, by the war being waged by Russia on Ukraine and mainly by the depreciation of the Turkish Lira.

The annual inflation rate from the end of March rose to 83.19 percent. The last time figures were seen at such levels were between 1998-1998.

The highest annual inflation rate ever seen since the formation of the TRNC was in January 1995 at 222.9 percent.

BRTK, LGC News


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