Inflation in Turkey topped 75% in May in what economists expect to be the peak before prices start to ease.

KEY POINTS

  • Consumer prices rose 75.45% in May on an annual basis and 3.37% on a monthly basis, according to the Turkish Statistical Institute, a government agency.
  • The sectors seeing the steepest annual consumer price rises were education at 104.8%, housing at 93.2%, and hotels, cafes and restaurants at 92.9%.
  • Economists had previously forecast that inflation in the country of 85 million would peak around 75% before beginning to ease.
    • KevonLooney@lemm.eeEnglish
      3·
      5 months ago

      The bag is empty. That’s what the expression “left holding the bag” means. You just end up with an empty bag because you were cheated out of everything else.