Reported 4 months ago
Turkey's inflation surged to 75.5% in May, surpassing expectations, marking what officials believe to be the height of a prolonged living cost crisis. With a planned decline in inflation rates to under 50% by the third quarter, the Turkish government anticipates the worst is over, partly due to measures taken to restrain loan growth and remove excess liquidity from the market. Analysts suggest further rate hikes may be needed to manage inflation dynamics amidst risks from tax updates and the Middle East situation.
Source: YAHOO