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Turkey inflation hits 61% as fallout from Ukraine war continues

Consumer inflation has surged to a fresh two-decade high in Turkey as external headwinds spawned by Russia’s invasion of Ukraine add to the country’s own economic woes.
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Turkey’s annual consumer inflation jumped to a new two-decade high of 61.1% in March from 54.4% the previous month as prices rose nearly 5.5% in March alone, fueled by the commodity shock of Russia’s invasion of Ukraine.

Producer prices, meanwhile, rose by about 9.2% in March, bringing annual producer inflation to nearly 115%, according to data released Monday by the Turkish Statistical Institute.

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