Energy, food drive the rise in prices
Interest rate cuts, lira slide triggered inflation leap
Inflation last this high before Erdogan came to power
Price rises a growing headache for Erdogan ahead of elections

ISTANBUL, May 5 Reuters Turkey39;s annual inflation jumped to a twodecade high of 69.97 in April, according to data on Thursday, fuelled by the RussiaUkraine conflict and rising energy and commodity prices after last year39;s lira crash.

The surge in prices has badly strained households just over a year before presidential and parliamentary elections that could bring the curtain down on President Tayyip Erdogan39;s long rule.

Erdogan first came to power as prime minister in 2003 before switching the country to a presidential system, and the unorthodox interest rate cuts made last year under pressure from him have been blamed for lighting a fire under inflation.

Monthonmonth, consumer prices rose 7.25, the Turkish Statistical Institute said, compared to a Reuters poll forecast of 6. Annually, consumer price inflation was forecast to be 68.

It39;s about food and energy price increases but also the spectacular failure of monetary policy in Turkey and it39;s about the abject and total failure of Erdogans unorthodox monetary policy, said strategist Timothy Ash at Bluebay Asset Management.

Last year39;s currency slide was triggered by a 500 basis pointeasing cycle which began last September under pressure from Erdogan, prompting the sustained surge in…