Turkey’s Inflation Tops 60% After Oil Surge Worsens Outlook

Turkish inflation accelerated to the fastest this year as higher energy costs complicate efforts to contain domestic demand with jumbo interest-rate hikes.

With services and food costs on the rise, the pace of annual price gains jumped to 61.5% last month from almost 59% in August, according to Turkey’s statistical office. It accelerated for a third straight month and came in line with forecasts.