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Turkey Inflation Keeps Accelerating Amid Weak Lira, Energy Costs

Turkish Economy As Inflation Pressures Central Bank To Tighten Policy
Photographer: Nicole Tung/Bloomberg

Turkey’s consumer inflation accelerated for a fifth month in October, driven by a surge in the cost of energy and weak lira. 

Prices rose an annual 19.89% through last month, up from 19.58% in September, while the median estimate in a Bloomberg survey of 20 analysts predicted an acceleration to 20.35%. Monthly inflation was 2.39%, compared with the median estimate of 2.8% in a separate survey.