Turkey inflation surges to 15-year high in August

Breaking News September 03, 2018 14:36

By Agence France-Presse

Inflation in Turkey rose again in August to nearly 18 percent, official statistics showed on Monday, a record since late 2003 and coming after the Turkish lira dramatically weakened against the US dollar last month.

Consumer price rose 17.9 percent in August from the same month in the previous year, up from 15.85 percent in July, according to the Turkish statistics office, increasing pressure on the central bank to hike interest rates.

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