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Turkish inflation near 60% after policy U-turn

The Turkish lira has lost 27% of its value against the dollar since the May elections. (Photo: AFP)

ISTANBUL – Turkey’s annual inflation rate held steady near 60 percent last month, official data showed Thursday, offering the first evidence that President Recep Tayyip Erdogan’s economic policy U-turn was working.

The TUIK state statistics agency said consumer prices rose 61.5% over the 12-month period ending in September.

The annual rate stood at 58.9% in August and…

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