Inflation & Prices
Turkish Inflation Nears 70% With Peak Likely Around Corner
- April price growth reached almost 70%, fastest in over a year
- Central bank alert to risks after aggressive rate-hike cycle
A market street in Istanbul.
Photographer: David Lombeida/BloombergThis article is for subscribers only.
Turkey’s inflation rate, already one of the world’s highest, accelerated for the sixth straight month, as government policies such as wage hikes counter aggressive interest-rate increases.
Consumer prices grew 69.8% from a year earlier, the fastest since late 2022 and up from 68.5% in March. The median estimate in a Bloomberg survey of economists was just over 70%.