Turkish annual inflation dropped to 39.1% in February, the lowest in almost two years, ahead of an expected interest rate cut by the central bank this week. Energy costs rose by 43.92% year-on-year, while food and non-alcoholic drink prices increased at their slowest rate since Nov. 2021. After reaching its highest inflation ever in October 2022, Turkey has seen some economic progress with the central bank raising interest rates aggressively and the economy growing by 3.2% in 2023.
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Gazans fear shortages, price hikes after Israel blocks aid
Palestinians in Gaza fear food shortages and price hikes as Israel halts aid entry to pressure Hamas for ceasefire extension, causing immediate price spikes and panic among shoppers. Aid workers struggle to replenish medical supplies due to Israeli restrictions, resulting in demoralization among Gazans. Israeli government accuses Hamas of hoarding supplies, while negotiations for ceasefire extension remain deadlocked. Full Article
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