04.Apr .2022 16:30

Turkey Annual Inflation Rose Above 60% in March to 20-Year High

Turkey Annual Inflation Rose Above 60% in March to 20-Year High
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Turkey's annual rate of inflation accelerated again in March to the highest point in 20 years, the Turkish statistics office Turkstat said Monday.

The consumer price index rose 61.14% in March compared with the same month in 2021. The annual inflation rate in February was 54.44%.

Transportation posted the biggest on-year increase, followed by food and non-alcoholic beverages, Turkstat data showed.

Consumer prices were up 5.46% on month in March, the data showed. They rose 4.81% the previous month.

"The lowest annual increase was 15.08% in communication. Education with 26.73%, clothing and footwear with 26.95% and health with 34.95%, were the other main groups where low annual increases realized. On the other hand, transportation with 99.12%, food and non-alcoholic beverages with 70.33% and furnishings and household equipment with 69.26% were the main groups where high annual increases realized," Turkstat reports. 

In March 2022, clothing and footwear with 1.78%, housing with 1.84% and recreation and culture with 2.78% were the main groups that indicated lowest monthly increase. On the other hand, transportation with 13.29%, education with 6.55%, and hotels, cafes and restaurants with 6.04% were the main groups where high monthly increases realized.