Turkey’s inflation rate decreased to 44.3% in December, marking the seventh consecutive month of decline. However, this reduction is slower than expected, as the country has been grappling with high inflation for years, peaking at 85% at times. In response to inflation, the Turkish Central Bank has implemented significant interest rate hikes, recently lowering the rate to 47.5%. The government also raised the minimum wage by 30% to bolster purchasing power, although analysts expect this may contribute to future inflationary pressures.