Turkey’s Cost of Living Soars to Nearly 70%

Consumer prices in Turkey soared to nearly 70% in April from a year ago, official figures show.

Transport, food prices and household furnishings recorded the sharpest rise in annual inflation – transport costs jumped by 105% over the year.

Countries around the world are dealing with a growing cost of living crisis.

But Turkey’s problems have been made worse by its president’s reluctance to raise interest rates – a commonly used tool to help cool inflation.