(MENAFN) According to the Turkish Statistics Institute, the country's inflation rose 9.54 percent in August, almost double the central bank's 5 percent year-end target rate, The Peninsula Qatar reported.
Surging food prices fuelled the rise in inflation, as the monetary policy-setters are concerned that the rising cost of food could hurt the economy further, data showed.
"Given that the current elevated levels of inflation affect the medium-term expectations adversely, all relevant institutions' involvement with the fight against inflation is deemed crucial," the bank said.
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