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.
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.
