Official inflation at 50.51% in March, TUIK says
The latest inflation data from Turkey's official statistical agency, TÜİK, reveals an increase in consumer prices by 50.51% year on year in March. While this is a lower-than-expected figure, it still highlights the persistent inflation issue in the country.
In contrast, the independent Inflation Research Group (ENAG) reports a much higher annual increase of 112.51% year on year, underlining the vast disparity between the two rates.
Despite the government's measures to tackle inflation, it remains a major concern for the Turkish economy, which is closely watched by international investors.
According to TUIK’s data the consumer price index (CPI) in March increased by 50.51% compared to the same month last year, and by 2.29% compared to the previous month.
The highest increase was observed in the education group, while the group with the least increase, at 17.27%, was clothing and footwear.
On the other hand, the group with the highest increase compared to the same month of the previous year was restaurants and hotels, with an increase of 70.73%. The group with the least increase compared to the previous month was clothing and footwear, with a decrease of 1.92%. The group with the highest increase compared to the previous month was education, with an increase of 6.30%.