Inflation soars to nearly 80% in Turkey as food prices double
CNN
Turkey's annual rate of inflation hit almost 80% in June — its highest level in about two decades.
Consumer prices increased by 78.6% last month compared to June 2021, driven by the soaring cost of food and drink and transportation. Food prices have almost doubled in a year, while the cost of transport was up 123%, according to data from the Turkish Statistical Institute.
It is another grim milestone for a country that has suffered rampant inflation in recent months, and whose currency has lost more than 20% of its value against the US dollar since the start of this year.
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