Turkey annual inflation down slightly in March

Turkey’s annual inflation rate slowed slightly to 30.9 per cent in March, from 31.5 per cent in February, official figures showed on Friday.

Every month, consumer prices rose 1.9 per cent, compared with 2.96 per cent in February, driven by education and housing prices, according to the TUIK statistics agency.

The figures were contested by independent economists from the Inflation Research Group, who estimated that consumer price inflation rose by 4.10 per cent in March, rising to 54.62 per cent over the past 12 months.

The research group regularly contests official inflation data.

Turkey has experienced double-digit inflation since 2019, with the year-on-year figure over 30 per cent for the past four years.

It rose above 75 per cent in May 2024 before beginning to slow.

AFP

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