Turkey – Turkey’s inflation hits two-year high with jump to 17.5 percent (Al Jazeera)

Turkish annual inflation has jumped to a two-year high of 17.53 percent in June, exceeding a forecast of 17 percent and continuing an extended rise after a brief dip, potentially delaying any interest rate cuts to later in the year.

The month-on-month consumer price reading on Monday was also higher than expected, up 1.94 percent according to the Turkish Statistical Institute, compared with a poll by the Reuters news agency that forecast 1.50 percent.

Turkey’s inflation hits two-year high with jump to 17.5 percent | Business and Economy News | Al Jazeera

People wearing protective masks shop at a local market in Ankara [File: Adem Altan/AFP]