Turkey’s consumer price inflation hits 20-year high

The annual inflation rate in Turkey soared to a 20-year high of 54.4% in February, following a 48.69% increase in January, figures from the Turkish Statistical Institute (TUIK) showed on Thursday (March 3). Economists had expected 52.95% inflation. Transportation prices recorded the biggest increase (75.75%), while food and non-alcoholic beverages prices jumped (64.47%), followed by miscellaneous goods and services (55.78%), hotels, cafes