Rise in Turkish inflation temporary: Erdogan

ISTANBUL: Turkey's President Tayyip Erdogan said on Monday the rise in inflation is temporary and the government is discussing steps to tackle the high cost of living.

Speaking following the weekly cabinet meeting, Erdogan also said some economic indicators are showing improvement and asked the Turkish people to have patience and faith in the government.

Turkish monthly inflation jumps 3.9% in June after post-election lira drop

In July, inflation rose to 47.8% and due to some tax hikes and depreciation of the Turkish lira against hard currencies it is expected to go up to around 60% by year-end.