Inflation in Turkey rose more than expected in April to almost 11% year-on-year, according to data released today, driving the Turkish pound to an all-time low amid concerns about the central bank's failure to contain growth. prices.
Double-digit inflation and the fall of the pound, which has fallen about 10 percent against the dollar this year, are a growing concern for the government as it prepares for the June 24 snap parliamentary and presidential elections.
The consumer price index rose 1,87% on a monthly basis, according to the Turkish Statistical Service, above analysts' forecast in a Reuters survey of 1,6%.
On an annual basis, consumer prices increased by 10,85%.