Turkish Inflation Is Staying on Uplift That’s Taking It Past 55%
- Price growth likely quickened sharply in July amid rate hikes
- Central bank expects inflation to peak only next year at 60%
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Turkish inflation probably accelerated to the fastest since January, underscoring the central bank’s challenge as it raises interest rates to try to end a cost-of-living crisis.
With food and energy costs on the rise, the pace of annual price gains probably soared to near 56% last month from almost 48% in July, according to the median forecast in a Bloomberg poll of economists. Turkey’s statistics office is due to release the data on Monday.