Turkish annual consumer price inflation dropped to 50.51% in March, official data showed on Monday, easing ahead of May 14 presidential and parliamentary elections.
"A change in general index was realized in CPI on the previous month by 2.29%, on December of the previous year by 12.52%, on same month of the previous year by 50.51% and on the twelve months moving averages basis by 70.20% in March 2023.
Clothing and footwear with 17.27% was the main group that indicated the lowest annual increase. On the other hand, hotels, cafes and restaurants with 70.73% was the main group where the highest annual increase realized.
In March 2023, clothing and footwear with -1.92% was the main group that indicated the lowest monthly increase. On the other hand, education with 6.30% was the main group where the highest monthly increase realized," Turkish Statistical Institute, TurkStat says.
Inflation in turkey has been stoked by a currency crisis at the end of 2021 and it touched a 24-year peak of 85.51% in October. It fell sharply in December and eased only to 55.2% in February despite a favourable base effect.
