Turkish inflation trumps expectations again, led by alcohol

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Turkish inflation has cranked up to yet another high, reaching its strongest point since October 2008 with a year-on-year gain of 11.87 per cent in April.

That marked an increase from 11.29 per cent in March and was above already punchy estimates from economists polled by Bloomberg of 11.72 per cent.

In its release, the Turkish statistics office said the biggest gain on the month, at 9.13 per cent, came from clothing. On the year, the biggest increase came from alcoholic drinks, which are subject to new taxes. Prices rose by almost 22 per cent on the year.

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Lira hits 2017 high after surprise central bank move (April 27)

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