Inflation in Turkey at 70%

– Turkey’s official inflation rate stood at nearly 70% in April, data showed yesterday, posing a huge challenge to the government of President Recep Tayyip Erdogan.

The consumer price index rose by 69.97% yearon-year in April compared with 61.14% in March, the national statistics agency calculated in a statement.

The higher rate in inflation is also attributable to a collapse in the lira which has made energy imports much more expensive. –