Turkish Inflation Climbs to New 20-Year High on Energy, Lira

Turkish inflation soared to a fresh two-decade high in March, leaving the lira increasingly vulnerable by depriving the currency of a buffer against market selloffs.

Consumer prices rose an annual 61.1% last month, slightly below the median estimate in a Bloomberg survey and up from 54.4% in February. Annual producer inflation was in triple digits for a second month and the core index of prices, which excludes food and energy items, increased more than forecast to over 48% from a year earlier.