Turkish inflation rate rises to record levels

Higher-than-expected inflation in April makes it harder for Turkey’s Central Bank to lower interest rates as the government wishes, rekindling a long-standing controversy in the country.
A vendor sells potatoes and other vegetables to a customer in an open market in central Ankara February 5, 2014. The humble potato has become a factor in Turkey's political and economic turmoil as prices of the staple soar, hurting the living standards of poorer Turks just before the ruling AK Party's toughest election test in a decade. At a market in the lower-income Istanbul suburb of Kucukcekmece, potatoes sell for between 3 and 4 lira ($1.33 and $1.77) a kilogramme, up from slightly more than 1 lira at
A vendor sells potatoes and other vegetables to a customer in an open market in central Ankara, Feb. 5, 2014. - REUTERS/Umit Bektas
mehmet cetingulec.jpg
Mehmet Cetingulec
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Turkey’s April inflation figures, announced on May 5, broke records. Consumer inflation rose to 9.38% from April 2013, while core inflation climbed to 10.05%.

What are the figures telling us?

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