Turkey’s annual inflation rate rose more than expected to nearly 70% in April, a fresh 20-year high, official data showed Thursday, fuelled by the Russia-Ukraine conflict and rising energy and commodity prices.
The consumer price index (CPI) surged an annual 69.97% last month, the Turkish Statistical Institute (TurkStat) said, the biggest year-over-year increase since 2002 and up from 61.1% in March. The annual consumer price inflation was forecast to be around 68%.
Month-on-month, consumer prices rose 7.25%, the institute said, compared to an average market forecast of 6%.
