Turkey’s Inflation Accelerates Closer to 70% With Rates at Peak

Turkey’s annual inflation swung to a 15-month high with a faster pickup than forecast, an acceleration closely watched by a central bank that’s still on alert after ending interest-rate hikes.

Stoked in part by this year’s sharp increase in the minimum wage, price growth in February quickened for a fourth straight month to 67.1% from 64.9% in January. The median estimate in a Bloomberg poll of economists was 66%.