Turkey's annual inflation soared to a 20-year high of 48.69% in January, data showed on Thursday, fueled by President Tayyip Erdogan's push for unorthodox interest rate cuts and a resulting crash in the currency late last year.
Consumer prices jumped 11.1% from the previous month, the Turkish Statistical Institute (TUIK) said, eating deeply into Turks' earnings. Both measures were more than expected in a Reuters poll which forecast 9.8% monthly and 46.7% annually.
