Inflation in Turkey exceeds 17%, after the lira’s decline


Data on Monday showed that Turkey’s inflation rate rose to 17.14% year-on-year in April, touching the highest level since mid-2019, and continuing to pressure the central bank to maintain a hard-line policy.

The Turkish Statistics Institute said that consumer prices rose 1.68%, compared with expectations of a Reuters poll of 1.80%.In March, the annual inflation rate was 16.19%. The forecast for April was 17.3%, well above the official target of 5%.

The data showed that the consumer price index rose 4.34% on a monthly basis in March, with an annual increase of 35.17%.

The central bank said in its quarterly report last week that inflation will decline after April and continue the gradual decline until the end of the year.


Please enter your comment!
Please enter your name here