Turkey's official inflation rate surpasses 78 percent

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Turkey's annual inflation rate was 78.62 percent in June, according to the Turkish Statistical Institute (TurkStat), the country's statistical authority.

The consumer price index saw a 4.95 percent rise on a monthly basis, and a 44.54 percent rise on the 12 months moving averages basis.

Image: TurkStat

Among the 12 main expenditure groups, the highest annual price increases were in transportation (123.7 percent), food and non-alcoholic beverages (93.9 percent), and household equipment (81.1 percent).

The Inflation Research Group (ENAG), which offers an alternative calculation of the inflation rate, said the inflation rate was 175.55 percent in June.

The monthly inflation rate was 8.31 percent and six-month inflation rate was 71.43 percent, according to the ENAG. (HA/VK)