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Asharq Al-Awsat
Asharq Al-Awsat
Business
Istanbul - Asharq Al-Awsat

Turkish Finance Minister Says Rise in Energy Prices Accelerating Inflation

A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. (Reuters)

Turkish Finance Minister Nureddin Nebati said on Saturday the global rise in energy prices was accelerating inflation in the country, but Ankara would continue working to lower it, adding that the lira's recent decline was within "acceptable" levels.

Inflation hit 54 percent in February and economists expect it to continue rising towards 70 percent in coming months, after Russia's invasion of Ukraine sent commodity prices soaring and knocked the lira.

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