The numbers issued moments ago from the TUIK Statistics Institute showed the rise in inflation in Turkey by 73.5% on an annual basis in May compared to 70% in April at the highest level of inflation since 1998, recording more than 15 times the target of the Turkish Central Bank to run while expectations indicated its rise to me 74.5%, the monthly index, in turn, decreased to 2.98% in May, while expectations were up to 4.8%.
The influence of the Turkish economy, as is the case in most of the global economies due to the Russian -Ukrainian war, which caused the high prices of commodities and thus increased food and energy prices the main engine for consumer prices or inflation in Terkia.
The Turkish lira is trading at 16,5300 levels against the US dollar and is close to touching its lowest levels ever registered in December last year and centered at 17.00.
02/11/2024
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