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Turkey’s annual inflation rate at 16.19% in March

Turkey's consumer price inflation and producer prices rose in March, figures from the Turkish Statistical Institute showed on Monday. The consumer prices index rose 16.19 per cent year-on-year in March, following a 15.61 per cent increase in February.

Anadolu Agency ECONOMY
Published April 05,2021
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TURKEY’S ANNUAL INFLATION RATE AT 16.19% IN MARCH

Turkey posted a 16.19% annual rise in consumer prices in March, the country's statistical authority announced on Monday.

The annual figure increased by 0.58 percentage points last month, rising from 15.61% in February, according to the Turkish Statistical Institute (TurkStat).

Month-on-month, the consumer price index climbed by 1.08% in March.

Economists polled by Anadolu Agency last week projected the inflation rate would be 16.21%.

Under the new economic program announced by the government last September, Turkey's inflation rate target for this year is 8%, while the Central Bank's year-end inflation forecast for 2021 is 9.4%.