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International Business Times
International Business Times
Business
AFP News

Turkish Inflation Exceeds 75% But Peak In Sight

President Recep Tayyip Erdogan dropped his opposition to interest-rate hikes to combat soaring consumer prices (Credit: AFP)

Turkish inflation jumped above 75 percent in May, official data showed Monday, but officials expect consumer prices to have finally peaked in a cost-of-living crisis that has dogged President Recep Tayyip Erdogan.

Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.

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