Turkish annual inflation soars to 67% in February
Publishing timestamp: 2024-03-04 04:25:07
Summary
Turkish annual consumer price inflation soared to 67.07% in February, above expectations. The strong figures are fueling concerns that Turkey's central bank may have to return to tightening, despite indicating that its rate hiking cycle was over. Persistently high inflation has been fueled by the weakened currency, lira, which has lost significant value against the dollar. Analysts predict a fall in inflation by the end of the year, but rising inflation may force the central bank to hike rates again after the local elections on March 31.
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Keywords: economic events, turkey, markets, world economy, forex markets, currency markets, emerging markets, breaking news: markets, inflation, interest rates, central banking, business news, prices, economy, breaking news: economy, us dollar/turkish lira fx spot rate,
Source: https://www.cnbc.com/2024/03/04/turkish-annual-inflation-soars-to-67percent-in-february.html