Turkey’s Inflation Set to Pass 60% as Oil Price Worsens Outlook
- Price data is due to be released by statistics office Tuesday
- Higher energy costs are complicating efforts by central bank
Istanbul city’s annual retail inflation reached 73% in September, down from 74% in August.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
Turkish inflation probably exceeded 60% for the first time this year as higher energy costs complicate efforts to contain domestic demand with jumbo interest-rate hikes.
The pace of annual price gains accelerated to near 62% last month from almost 59% in August, according to the median forecast in a Bloomberg poll of economists. Turkey’s statistics office is due to release the data on Tuesday.