International investment bank JP Morgan announced that it expects inflation in Turkey to peak at 72 percent on an annual basis in May. In April 2022, CPI increased by 7.25 percent. With the increase in April, annual inflation was realized as 69.97 percent. On the other hand, Turkish Lira continues to depreciate; Euro exceeded 17 TL, Dollar exceeded 16 TL. Turkish Lira which had been around 15 for a long time, has seen 16 yesterday. The Turkish lira weakened further to 16.1 per USD in May. Casual people shop in daily life in Izmir, Turkey on 24 May 2022
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