Consumer prices in Turkey are increasing more and more.
In February, inflation in Turkey rose to more than 50 percent.
Consumer prices increased by 54.44 percent compared to the same month last year, as the national statistics office announced in Ankara on Thursday.
In January, the increase was around 49 percent.
In a month-on-month comparison, consumer prices increased by 4.8 percent.
In particular, the prices for transport, i.e. train and bus journeys, household appliances and groceries have increased.
According to the statistics authority, producer prices even increased by 105 percent year-on-year in February.
The main reason for the sharp increase in consumer prices is the loose orientation of Turkish monetary policy.
Despite the high inflation, the Turkish central bank lowered the key interest rate several times last year, most recently to 14.0 percent.
President Recep Tayyip Erdogan is a declared opponent of high interest rates, which economists recommend as a remedy for high inflation.
Added to this are high oil and energy prices against the background of the war in Ukraine.
Turkey has close ties with Ukraine and Russia.
Ankara condemns the invasion but does not participate in sanctions against Russia.
President Erdogan's spokesman, Ibrahim Kalin, justified this on Wednesday, among other things, with his lane's close economic ties to Russia.
He also stressed on CNN International that a channel of communication with Russia must remain open.