One of the world’s worst inflation crises closed in further on another grim milestone in Turkey, and government efforts to help the population cope with the fallout only threaten to make it worse. Moneyweb Inflation Turkey
One of the world’s worst inflation crises closed in further on another grim milestone in Turkey, and government efforts to help the population cope with the fallout only threaten to make it worse. Price growth has been in the double digits almost without interruption since the start of 2017, but it exploded this year near a quarter-century high on the back of soaring energy and other commodity costs. Data on Monday showed annual inflation accelerated for a 13th straight month to 78.
Declines in the lira against the dollar continued in June, adding to this year’s worst performance in emerging markets that’s stoking inflation by making imported goods more expensive. The lira slightly weakened after the inflation report and was trading down 0.4% at 16.8163 per the dollar at 11:06 a.m. Istanbul.
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