Turkey's annual inflation rate stayed stable in January at nearly 65 percent, but month-on-month consumer price increases jumped sharply following a huge minimum wage hike, official data showed Monday. The year-on-year inflation rate moved to 64.86 percent - up a notch from 64.77 percent in December, the TUIK statistics agency reported. The monthly inflation rate in January, however, climbed to 6.7 percent, from 2.9 percent in December, following a 49-percent rise in the minimum wage that went into effect in January. Turkey's finance minister, Mehmet Simsek, attributed the monthly inflation jump to "temporary effects". "We predict that, starting from February, monthl
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