Turkey inflation spirals to nearly 70 percent

Turkey’s official inflation rate spiralled to nearly 70 percent in April, data showed on Thursday, posing a huge challenge to President Recep Tayyip Erdogan, whose unconventional economic policies are often blamed for the economic turmoil. The consumer price index rose by 69.97 percent year-on-year in April compared with 61.14 percent in March, the national statistics agency said. Erdogan insists that sharp cuts in interest rates … Continue reading Turkey inflation spirals to nearly 70 percent