Data revealed, today, Monday, that the inflation rate in Turkey rose to 17.14% on an annual basis, last April, to touch its highest level since mid-2019.
The Turkish Statistics Institute said that on a monthly basis, consumer prices rose by 1.68% compared to the 1.80% forecast of the Reuters poll.
While the annual inflation rate last March reached 16.19%, as expectations for last April were 17.3%, which is much higher than the official target of 5%.
The data also revealed that the consumer price index rose 4.34% on a monthly basis last March, an annual increase of 35.17%.
For its part, the Turkish Central Bank stated in its quarterly report last week that inflation will decrease after last April, and the gradual decline will continue until the end of the year.