Turkish Inflation Stages Sharp Acceleration on Lira Slump: Chart

Turkey’s consumer inflation raced higher last month, as the lira hit record lows against the dollar, the pound and the euro. The plummeting exchange rate helped quicken the pace of monthly price gains to 2.5 percent: the highest in more than five years. ”Today’s data make it more likely that the central bank will raise interest rates further in the coming months,” William Jackson, senior emerging-market economist at Capital Economics, said in an e-mailed note.

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