Inflation in Turkey in June soared to an annual rate of 78.6 percent, the highest in 24 years, official data showed on Monday, as President Recep Tayyip Erdogan's unconventional economic policies continued to take their toll. The figure released by Turkey's state statistic agency was the highest since January 1998. Inflation had stood at 73.5 percent in May and at 15.0 percent at the start of last year. Economy Minister Nureddin Nebati on Friday "promised" that consumer prices will start dropping in December. The data showed that headline inflation was driven by a 123.4-percent jump in the cost of transportation and a 94-percent increase in non-alcoholic drinks. The
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