Inflation & Prices
Turkey Poised to Reach Worst of Inflation With Peak Close to 75%
- Price growth set for deceleration after likely cresting in May
- Fiscal discipline to play larger role in supporting slowdown
Vegetable vendors at the Friday Bazaar market in Istanbul, Turkey.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
Turkey hopes it’s close to turning the page on another crisis as inflation tops out.
A long stretch of annual price increases is a legacy of ultra-loose monetary policy, fiscal largess and chronic instability in the lira. Before a likely turnaround begins, inflation approached 75% in May, according to the median estimate of economists surveyed by Bloomberg, from just under 70% a month earlier.