Turkish inflation hits 85.5% as doubts linger over official data
Alternative surveys put Turkey’s inflation rate well above the official figure, nourishing suspicions that the statistics agency is tweaking market realities under government pressure.
Turkey’s annual consumer inflation climbed to a 24-year high of 85.5% in October as prices rose 3.5% month-on-month, the statistics agency announced Thursday amid growing doubts that it could be glossing over gloomier market realities.
Clothing, food and household equipment prices drove the surge in October, rising respectively by more than 8%, 5% and 4% from the previous month, data by the Turkish Statistical Institute (TUIK) showed.
