I was astonished to learn yesterday that Turkey's annual inflation rate is running at 70%. What's happening there had completely passed me by.

Apparently they had a major street demo there in the first half of December 2021 when inflation was at 61% but nothing of similar magnitude since. Their government increased the minimum wage by 50% on January 1st. Nevertheless, their poorest workers are toiling for 20% less pay in real terms than 12 months earlier.

Anyone with savings in their local currency have the same amount but it will purchase less than a third of the goods and services than a year prior.

Sri Lankans are going apeshit with their inflation at 22%.