Turkey’s annual inflation shoots up to 24-year high of 78.6 pct

Turkey’s annual inflation rate jumped to a 24-year high of 78.62 percent in June, data showed on Monday, just above forecast, driven by the Ukraine war impact, rising commodity prices and a lira slide since a December crisis.

Month-on-month, consumer prices rose 4.95 percent, the Turkish Statistical Institute said, compared to a Reuters poll forecast of 5.38 percent. Annually, consumer price inflation was forecast to be 78.35 percent.

The domestic producer price index climbed 6.77 percent month-on-month in June for an annual rise of 138.31 percent.

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