Turkey's Inflation Soars to 15-Month High of 67%, Fueling Concerns Over Rate Hikes Pause

Annual inflation in Turkey jumped to 67.07% in February, exceeding forecasts and a 15-month high
Increase driven by price hikes in hotels, restaurants, education sectors; January minimum wage hike also a factor
Rise renews doubts about central bank's decision 2 weeks ago to pause interest rate hikes after 8-month tightening cycle
Turkish lira has lost 40% vs dollar in past year, 82.6% in 5 years, due to COVID-19, political issues, unorthodox monetary policy
Finance Minister predicts inflation will be sticky but decrease over course of year; wants lira value to stabilize