Inflation in Turkey jumps to the highest level in 24 years. 73.5%

 


Turkey's annual inflation rate jumped to a 24-year high of 73.5% in May, below expectations, but driven by the repercussions of the war and rising commodity prices and the lira that has been falling since a crisis in December, data showed Friday.


Consumer prices rose 2.98% month-on-month, compared with a Reuters poll forecast of a 4.8% increase, according to the Turkish Statistics Institute.

Year-on-year, consumer price inflation was expected to reach 76.55%.

The domestic producer price index (PPI) rose 8.76% month-on-month in May, an annual increase of 132.16%.


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