Turkey's Annual Inflation Soars to Almost 79%, Hitting Highest Level in 24 Years
Headline from NBC 6 South Florida
Inflation in Turkey rose close to 79% last month, the highest the country has seen in almost a quarter of a century.
NBC 6 South Florida's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
By Anna Cooban and Isil Sariyuce, CNN Business Turkey’s annual rate of inflation hit almost 80% in June — its highest level in about two decades. Consumer prices increased by 78.6% last month compared to June 2021, driven by the soaring cost of food and drink and transportation.
Annual inflation in Turkey hit 78.62% in June, the highest rate since 1998. The Turkish Statistical Institute released the monthly figures on Monday. Turkey is experiencing a deepening cost-of-living crisis.