12:45 - 3.06.2024

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June 3, Fineko/abc.az. Annual inflation in Türkiye may reach a record 75.8%.

Türkiye is at a critical turning point on its way to overcoming a long-standing inflationary crisis, ABC.AZ reports with reference to the Turkish media.

According to a Bloomberg survey of economists, the latest data shows that inflation reached 75% in May.

This is a big increase compared with inflation, which was just under 70% in April.

This sharp price increase is the result of excessive monetary policy, expanded fiscal measures and the constant instability of the Turkish lira.

A survey of 67 market participants showed that the expected monthly inflation in May will be 3.04%. If these figures are confirmed, annual inflation will rise to 74.9% by the end of May.