ISTANBUL, June 4 (Xinhua) -- With the collapse of the lira, Turkey's inflation hit a six-month high in May ahead of the country's presidential and parliamentary elections, according to official data released on Monday.
The inflation rate surged to 12.15 percent, up from 10.85 percent in April.
The lira has plunged by more than 20 percent against the U.S. dollar and the euro since start of the year, raising concerns of liquidity ahead of the snap elections scheduled for June 24. The lira hit a low of 4.93 lira against one dollar on May 23.
Consumer prices stood at their highest level since November last year. Credit agency Moody's placed the country's sovereign rating on watch for a downgrade.
