Turkey imports almost all of its energy needs. Rising energy prices have drawn public protests in recent months.
500-basis-point easing cycleMonth-on-month consumer prices rose 5.46%, the Statistical Institute said, just below a Reuters poll forecast of 5.7%. The annual consumer price inflation forecast was 61.5%.
“The war in Ukraine is just making things that much worse,” Ash added, noting the bank had not hit its annual inflation target of 5% since 2011.
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