Turkey's inflation passes 75% in what economists believe is peak

Consumer Prices in Turkey Rise to 75.45% in May #

Consumer prices in Turkey increased by 75.45% on an annual basis in May, with a monthly rise of 3.37%, according to the Turkish Statistical Institute. Education, housing, and hotels, cafes, and restaurants experienced the highest annual price increases at 104.8%, 93.2%, and 92.9% respectively. Economists had previously forecasted that inflation would peak at around 75% before starting to ease. The country’s central bank has maintained interest rates at 50% since March, aiming to counter the rising inflation.