Turkish inflation rate jumps to 15.4 per cent

The consumer price index climbed 15.4 per cent in June from the same month in 2017 on an annual basis, up from 12.2 per cent in May
Tuesday, 03 July 2018 15:02

Turkey's annual inflation rate climbed to 15.39 per cent in June compared to the same month last year, the statistical institute TurkStat said Tuesday.

The June figure was up from 12.15 per cent in May, according to the data from the national statistical body.

The highest annual rise in the month was seen in transport services, up 24.26 per cent, and in prices of furnishings and household appliances, up 18.91 per cent.

Also among the chief drivers of the rise were sharp hikes in the prices of basic foodstuffs like onions, potatoes and carrots. 

The data added to pressure on the Turkish lira, which has lost over 23 per cent in value against the dollar this year. 

The dollar-lira parity rose sharply after the data was released, rising from 4.6225 to 4.69 according to Reuters data.