Turkey Inflation Up At 32.37% In April

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Turkey’s annual inflation rate rose to 32.37 per cent in April, up from 30.9 per cent in March and above expectations, official data showed on Monday.

On a monthly basis, consumer prices climbed 4.18 per cent, accelerating from 1.9 per cent in March, driven mainly by increases in housing, water, electricity, gas, and other fuels, according to the TUIK statistics agency.

The figures were disputed by independent economists from the Inflation Research Group (ENAG), who estimated that consumer prices rose 55.38 per cent year-on-year in April.

ENAG regularly challenges official inflation data.

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Turkey has grappled with double-digit inflation since 2019, with annual inflation remaining above 30 per cent for the past four years.

Inflation peaked above 75 per cent in May 2024 before starting to ease.

AFP