Türkiye annual inflation falls to 50.5% in March

Turkish annual consumer price inflation dropped to 50.51 per cent in March, official data showed on April 3, slightly below forecast, easing ahead of May 14 presidential and parliamentary elections.

March consumer prices rose 2.29 per cent from a month earlier TRCPI=ECI, less than a predicted 2.85 per cent in a Reuters poll.

The poll had forecast that consumer prices TRCPIY=ECI would be up 51.3 per cent from a year earlier, and were expected to end the year at 46.5 per cent.

Inflation has been stoked by a currency crisis at the end of 2021 and it touched a 24-year peak of 85.51 per cent in October. It fell sharply in December and eased only to 55.2 per cent in February despite a favourable base effect.

The domestic producer price index was up 0.44 per cent month-on-month in March for an annual rise of 62.45 per cent, according to the data from the Turkish Statistical Institute.