Turkey Inflation Likely Neared 70% in March Ahead of Elections
- Prices may have spiraled on weaker lira, according to survey
- Increased demand for currency in runup to polls impacted data
Turkey is prone to policy swings after elections.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
Turkish inflation probably surged to almost 70% in March, as the lira weakened on concerns Sunday’s local elections could have prompted a currency rout.
Analysts expect data due on Wednesday to show prices accelerated to 69% on an annual basis last month, up from 67.1% in February, according to a survey conducted by Bloomberg. Monthly inflation — the main gauge that policymakers use — likely slowed to 3.5% from 4.5%, according to a separate poll, still higher than in the preceding quarter.