Turkish inflation back in double digits

The Central Bank of Turkey looks set to hike rates again after inflation rocketed to 10.74% in the year to May, up from 9.25% the previous month.

It is the first time since last April that inflation has surpassed the 10% mark.

The central bank raised its benchmark rate half a point to 15.75% last month and said that that it would "consider the possibility of a further measured rate hike" in June.

It said in May that it expected the depreciation in the lira and rising energy and food costs to lead

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