Turkey’s inflation strengthened less than economists had expected, as global crises in food and energy markets compounded domestic pressures from a devaluation of the currency and low interest rates.
Consumer prices stood at 78.62% last month, up from 73.5% in May, according to statistics agency Turkstat.
Average estimates called for a rise to 79.95. Monthly inflation came in at 4.95% versus average estimates of 5.73%.
Producer prices rose by 138.31%, while the core inflation index stood at 57.26% from 56.04% last year.
Price growth has been at double-digit rates almost without interruption since the start of 2017, but has jumped this year due to rising energy and other commodity costs.
Source: Capital
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