Turkey's Annual Inflation Hits 70% in February
Turkish annual consumer price inflation surged to 67.07% in February, exceeding expectations, with the highest increases seen in the sectors of hotels, cafes, restaurants, and education. The country's persistently high inflation has been driven by the weakened Turkish lira, which has lost 40% of its value against the dollar in the past year. Analysts are concerned that the central bank may need to resume tightening measures despite indicating the end of its rate hiking cycle, and some predict a potential fall in inflation by the end of the year.