Inflation rose by 4.95% on a monthly basis in June to reach a lower-than-expected 78.62% on an annual basis, the Turkish Statistical Institute (TurkStat) revealed Monday, APA reports citing Daily Sabah.
It was expected to reach 80%, according to the median estimate in a Bloomberg survey of 17 economists. Annual inflation the month before jumped to a 24-year high of 73.5%.
Despite the latest rise, the data shows it has started the process of slightly slowing down.
Fueled by soaring energy and commodity prices, consumer prices in the country this year neared a quarter-century high.