Inflation Surges 70 Percent in Turkey on Higher Energy Prices and Weakening Lira

Inflation Surges 70 Percent in Turkey on Higher Energy Prices and Weakening Lira
Turkish President Recep Tayyip Erdogan attends a press conference with Polish President at Cankaya Mansion in Ankara, Turkey, on March 16, 2022. Adem Altan/AFP via Getty Images
Katabella Roberts
Updated:
Inflation in Turkey hit a 20-year-high in April as the country continued to battle rising rates, further exacerbated by the conflict in Ukraine and supply chain issues, according to data published by the Turkish Statistical Institute on May 5.

Consumer price inflation soared to 69.97 percent per year in April, and 7.25 percent monthly, driven by high global energy prices and the weakening lira.

Katabella Roberts
Katabella Roberts
Author
Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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