Turkey’s inflation rate drops slightly in March
Turkey’s annual inflation rate has eased, according to official data. The TUIK statistics agency reported a modest slowdown in price increases. Independent economists, however, dispute the official figures and claim inflation is much higher. Turkey has faced persistent double-digit inflation for several years.
TLDR
- Official figures show Turkey’s annual inflation rate slowed to 30.9 per cent in March, down from 31.5 per cent in February.
- Monthly consumer prices rose 1.9 per cent, compared to 2.96 per cent in February, mainly due to education and housing.
- The Inflation Research Group estimates consumer price inflation rose by 4.10 per cent in March, reaching 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.
