Inflation Going the Wrong Way for Turkey After Rate Cuts Paused
By Cagan Koc
July 2, 2020, 12:47 PM EDT Updated on July 3, 2020, 3:14 AM EDT
A pickup in Turkey’s inflation is becoming hard to ignore even for a central bank that spent almost an entire year cutting interest rates.
Faster cost increases for food and energy kept inflation accelerating for a second month in June. Consumer prices rose an annual 12.6% after a gain of 11.4% in May, more than the median of 12% in a Bloomberg survey of 22 analysts.
More:Inflation Going the Wrong Way for Turkey After Rate Cuts Paused - Bloomberg