Inflation Not A Problem Only For Turkey, Minister

TOKYO - Turkish State Minister for Economy Mehmet Simsek said on Wednesday that inflation was not a problem only for Turkey, but it was a problem for the entire world.
"Inflation rates climbed to approximately 4 percent from 2 percent in developed countries this year. And it is now over 10 percent in developing countries," Simsek told reporters.
Turkey's statistical authority announced on Tuesday that consumer prices increased by 1.49 percent in May, soaring the annual inflation rate to 10.74 percent, the first double-digit figure in 13 months.
Food prices have 40 percent and energy prices have 25 percent share in rising inflation rates, Simsek said.
However, he said, "I do not assume that food and oil prices will continue to surge."
(TÇ-AÖ)
(ECO)