Turkey’s Crisis Spirals As Inflation Surges, Producer Prices Rise ‘Appalling’ 32%

Turkey’s Crisis Spirals As Inflation Surges, Producer Prices Rise ‘Appalling’ 32%

Well, August inflation data for Turkey is out and as expected, the news isn't great. With the lira in free fall and the central bank hamstrung by Erdogan's recalcitrance on rates, the annual inflation rate surged to 17.9% last month from 15.9% in July. That was worse than estimates. (Bloomberg) Here's core: (Bloomberg) And here are food prices, on a separate chart just to kind of underscore how quickly this situation is getting out of hand: (Bloomberg) Also, it looks like PPI jumped
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