Turkish inflation hits 75pc in expected peak before relief

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Turkish Inflation خبریں

Interest Rates,Central Bank Of The Republic Of Turkiye

Interest rates currently stand at 50pc after 4,150 basis points hikes since June last year

ISTANBUL – Turkish annual consumer price inflation reached 75.45 per cent in May, a bit above expectations, according to official data on Monday, in what is expected to be the high watermark before a series of rate hikes and relative lira stability bring relief.

In a Reuters poll, annual inflation was forecast to peak at 74.8pc in May, its highest level since November 2022, before dropping to 42.6pc by the end of 2024. Forecasts for month-on-month price rises ranged between 2.7pc and 3.3pc. The reversal has drawn foreign investor interest and helped boost the central bank's foreign reserves, which are at the highest level since December on a net basis.

Interest Rates Central Bank Of The Republic Of Turkiye

 

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