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Turkey sees April inflation hit 69.97%, near 20-year high

  • The inflation rate rose from 61.1 percent in March
  • On a monthly basis, prices rose by 7.25 percent

Turkey’s consumer price inflation accelerated to an annual 69.97 percent in April, local reports have said.

The number continued to rise to a two-decade high, according to statistics from the Turkish Statistical Institute.

The inflation rate increased from 61.1 percent in March, the institute said.

On a monthly basis, prices rose by 7.25 percent, said the institute.

Turkey is experiencing the highest inflation among major emerging markets and industrialized G20 economies.

Inflation is now just a few percentage points off a peak of 73.2 percent, which was reached following a financial crisis in the early 2000s.