Inflation in Turkey soars to 73.5% ...News

Russia Today - Economy
Inflation in Turkey soars to 73.5%
source : Russia Today ( News ) () 7
The spike is the biggest in nearly a quarter century, according to data Turkish inflation hit a 24-year high in May amid pressure from skyrocketing food and energy prices. Official data showed on Friday that consumer prices rose 73.5% in year-on-year terms last month, up from 70% in April. The latest figure surpassed the 73.2% high touched in 2002 and is the highest since October 1998, when inflation reached 76.6%. Transportation and food costs soared by 108% and 92%, respectively, versus last year, the statistics show.Inflation in the country has been in double digits for much of the past five years, as the Turki

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