ISTANBUL, Apr 03 (AFP): Price growth in inflation-plagued Turkey gathered pace in March, rising to 68.5 per cent year-on-year, the country's statistics agency TUIK said Wednesday.
The increased reading followed a Sunday municipal election drubbing for President Recep Tayyip Erdogan's party that many blamed on the out-of-control cost of living.
Last month the cost of education, health, transport and food showed the biggest increases, after inflation reached 67.07 per cent in February, TUIK said.
But ENAG, a group of independent economists, said their own calculations put the year-on-year figure at almost 125 per cent.
Pointing to slowing month-on-month inflation in the official data, at 3.16 per cent rather than February's 4.53 per cent, Finance Minister Mehmet Simsek wrote that "monthly inflation decreased in line with our forecast".
Turkish inflation inches up in March to 68.5pc
FE Team | Published: April 03, 2024 22:56:05
Turkish inflation inches up in March to 68.5pc
Share if you like