ISTANBUL (Reuters) – Turkey’s annual inflation rate rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira’s continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts.
Month-on-month, consumer prices rose 2.37%, the Turkish Statistical Institute said, compared to a Reuters poll forecast of 2.9%. Annually, consumer price inflation was forecast to be 80.5%.
The domestic producer price index climbed 5.17% month-on-month in July for an annual rise of 144.61%.
(Reporting by Berna Suleymanoglu, Oben Mumcuoglu; Writing by Daren Butler; Editing by Ali Kucukgocmen)
