Turkish inflation surged 6.3 percent month-on-month in September: Official data

Turkish inflation surged 6.3 per cent month-on-month in September, official data showed on Wednesday, far exceeding the 3.6 per cent forecast in a Reuters poll and underscoring the deepening impact of a currency crisis on the wider economy.

On a yearly basis, inflation spiked to 24.52 per cent, the data from the Turkish Statistical Institute showed. That was the highest since the end of 2003.

Producer prices rose 10.88 per cent month-on-month in September for an annual rise of 46.15 per cent.