Inflation & Prices
Turkey’s Inflation Spirals Closer to 70% in Worry for Peak Rates
- Annual inflation exceeds forecasts in reaching 15-month high
- Central bank remains on alert after ending cycle of rate hikes
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Turkey’s annual inflation swung to a 15-month high with a faster pickup than forecast, an acceleration closely watched by a central bank that’s still on alert after ending interest-rate hikes.
Stoked in part by this year’s sharp increase in the minimum wage, price growth in February quickened for a fourth straight month to 67.1% from 64.9% in January. The median estimate in a Bloomberg poll of economists was 66%.