Turkish inflation hits two-decade high of 78.6% ...Middle East

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Turkish inflation hits two-decade high of 78.6%
ISTANBUL: Inflation in Turkey in June soared to an annual rate of 78.6 percent -- the highest in 24 years, according to official data released Monday -- as President Recep Tayyip Erdogan's unconventional economic policies continued to take their toll.But unofficial estimates published by Turkish economists showed prices rising at more than double that figure.The inflation rate reported by Turkey's state statistics 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 vowed that consumer prices will start dropping in December.“I promise to you and to the president, we will s

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