Turkey’s Inflation Hits 61 Percent Climbing to New 20-Year High

Turkish President Recep Tayyip Erdogan attends a press conference with Polish President at Cankaya Mansion in Ankara, Turkey, on March 16, 2022. Adem Altan/AFP via Getty Images

ISTANBUL—Yearly inflation in Turkey hit 61.14 percent on Monday, climbing to a new 20-year high and deepening a cost of living crisis for many households.

The Turkish Statistical Institute said consumer prices rose by 5.46 percent in March compared with the previous month. Yearly inflation was up from 54.44 percent in February.