Inflation Going the Wrong Way for Turkey After Rate Cuts Paused

A pickup in Turkey’s inflation is becoming hard to ignore even for a central bank that spent almost an entire year cutting interest rates.

Faster cost increases for food and energy kept inflation accelerating for a second month in June. Consumer prices rose an annual 12.6% after a gain of 11.4% in May, more than the median of 12% in a Bloomberg survey of 22 analysts.