Inflation in Turkey surpassed 75%, according to economists' predictions of its peak.

• The Turkish Statistical Institute, a government agency, reported that consumer prices increased by 75.45% annually and 3.37% monthly in May.
• The sectors with the highest annual consumer price increases were education (104.8%), housing (93.2%), and hotels, cafes, and restaurants (92.9%).
• Previously, economists predicted that the inflation rate in the country of 85 million would reach a peak of 75% before gradually decreasing.

The peak of inflation in Turkey, which hit 75% in May, is expected by economists to occur before prices begin to decrease.

The Turkish Statistical Institute, a government agency, reported that consumer prices increased by 75.45% annually and 3.37% monthly in May.

The sectors experiencing the most significant annual price increases were education with a rise of 104.8%, housing with an increase of 93.2%, and hotels, cafes, and restaurants with a rise of 92.9%.

The inflation rate in Turkey, which has a population of 85 million, was predicted by economists to reach a peak of 75%. Despite the government's efforts to increase interest rates over the past year, the average Turkish consumer has faced significant financial difficulties due to the resulting price hikes.

Since March, Turkey's central bank has kept its interest rate at 50% in an effort to combat rising inflation in the country. The bank stated that it would maintain a tight monetary stance until a significant and sustained decline in the underlying trend of monthly inflation is observed.