Turkey's inflation reached 69.8% year-on-year in April, the highest rate since late 2022.

Turkey's inflation accelerated for the sixth consecutive month, rising to 69.8% year-on-year in April, the highest rate since late 2022. Despite aggressive interest rate increases, annual inflation is expected to peak at 70% before slowing to 36% by the end of the year, according to the central bank. The government's policies, such as wage hikes, have contributed to the ongoing inflation pressures.