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I don't know math either, but that 3.37 % inflation is month to month. So, I believe they are saying it rose 75% from last year and 3.37 from last month.
I do know math and finance. The two numbers don't agree. I wrote how you go from monthly to annual rate.
This won’t age well :)
Each month to month increase has to be different, obviously. You are not simply multiplying or dividing by twelve. In other words, prices rose 3.37% from April to May. There is no correlation between the numbers.
Here are the inflation rates that may help with calculations: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Statistics/Inflation+Data/Consumer+Prices
Thanks for this chart.
That must be what they meant. Generally, when governments publish inflation stats for a month they always annualize the number.
Yeah. The way the CNBC article was written was confusing.
The last I checked, (1+0.0337)^12 = 1.4884. Neither Turkish Statistical Institute nor CNBC journalists know math?