12 minutes agoMajor inflation weakens Turkish economy, investors' flight warned
Periskopi(8 years ago)
(8 years ago)Turkey's annual inflation suffered the highest hit in the past six months, prompted by a decline in Turkish currency that led to an extraordinary increase in interest rates. Consumer price index (CPI) was 12, 5 per cent this year, accelerated from April to 10, 85 per cent, [...]
The consumer price index (CPI) was 12, 5 per cent this year, accelerated from April to 10, 85 per cent, Turkey's Statistical Institute (TUIK) reported.
Clothe prices rose to 5.21 per cent and transportation prices to 2.32 per cent in May, raising CPI prices, the data shown at TãoK.
The highest annual growth was 20, 02 per cent in transport. “Hurriyet” reported, report Periscopi.
Basic inflation “>C”, excluding energy, food, drink, tobacco and gold, rose to 12.64 percent year-on-year from 12.24 a month ago.
The currency had dropped in May to a record low of $4,9290 against the dollar amid investors' concerns about Central Bank independence./Periscopi/
