Turkey's annual inflation hits fresh 24-year high of 79.6%

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, SİA reports citing Turkish media.

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%.

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