Inflation in Turkey jumps to the highest level in 24 years, it reached 73.5%

Data showed today, Friday, that the annual inflation rate in Turkey jumped to its highest level in 24 years, recording 73.5% in May, a level lower than expectations, but it is driven by the repercussions of the war, the rise in commodity prices and the lira that has been declining since a crisis in December.
The Turkish Statistical Institute said consumer prices rose 2.98% on a monthly basis, compared to expectations in a Reuters poll for a 4.8% increase.
On an annual basis, consumer price inflation was expected to be 76.55%.
The domestic producer price index rose 8.76% month-on-month in May, an annual increase of 132.16%.