Turkey's inflation hits two-decade high of 78.6 pct

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Turkey's inflation hits two-decade high of 78.6 pct

STORY: Turkey's inflation hits two-decade high of 78.6 pct DATELINE: July 5, 2022 LENGTH: 0:01:04 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. Turkish central bank 2. various of the lira 3. various of marketplaces STORYLINE: Turkey's annual inflation surged to 78.62 percent in June, the highest since 1998, the Turkish Statistical Institute announced on Monday. It said the consumer prices increased by 4.95 percent month-on-month in June. The highest annual price surge was in the transportation sector with 123.37 percent. The cost of food and non-alcoholic drinks increased 93.93 percent, while furnishings and household equipment prices were up 81.14 percent, according to the official statistics. The domestic producer price index climbed 6.77 percent month-on-month in June, with an annual rise of 138.31 percent. Turkey's annual inflation was 73.5 percent in May. The country is undergoing financial woes unseen in decades, with the Turkish lira losing its value since the COVID-19 pandemic

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