scorecardresearchTurkish Inflation Is Likely to Exceed 80% and It Has Yet to Peak

Turkish Inflation Is Likely to Exceed 80% and It Has Yet to Peak

Updated: 03 Aug 2022, 08:50 AM IST
TL;DR.
Turkish inflation likely accelerated again and may be months away from peaking, soaring to levels unseen since the aftermath of the Asian financial crisis in 1997 as the central bank sticks with its ultra-loose monetary course.
Turkish President Recep Tayyip Erdogan speaks during a signature ceremony of an initiative on the safe transportation of grain and foodstuffs from Ukrainian ports, in Istanbul, on July 22, 2022. - As a first major agreement between the warring parties since the invasion, Ukraine and Russia are expected to sign a deal in Istanbul today to free up the export of grain from Ukrainian ports. The deal has been brokered by the UN and Turkey. (Photo by OZAN KOSE / AFP)

Turkish President Recep Tayyip Erdogan speaks during a signature ceremony of an initiative on the safe transportation of grain and foodstuffs from Ukrainian ports, in Istanbul, on July 22, 2022. - As a first major agreement between the warring parties since the invasion, Ukraine and Russia are expected to sign a deal in Istanbul today to free up the export of grain from Ukrainian ports. The deal has been brokered by the UN and Turkey. (Photo by OZAN KOSE / AFP)