Turkey's inflation shot up by almost 70 percent in April, reaching the highest level in 20 years.

Many consumers are seeing an erosion of living standards.

The Turkish Statistical Institute said on Thursday the consumer price index rose by 69.97 percent last month from a year earlier.

Fares for buses and trains jumped 105 percent. Food prices rose 89 percent.

Despite strong inflationary pressure, the central bank cut interest rates several times last year in line with the policy of President Recep Tayyip Erdogan.

The Turkish currency, the lira, has plunged, pushing prices higher.

The Erdogan administration has become the target of sharp criticism. One of Turkey's largest economic organizations painted a grim picture last month, predicting strong inflation as the sinking lira makes imports more expensive.