Turkey inflation up at 32.37 percent in April: official data

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

On a monthly basis, consumer prices climbed 4.18 percent, accelerating from 1.9 percent 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 percent year-on-year in April.

ENAG regularly challenges official inflation data.

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

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

Agence France-Presse (AFP) is a French international news agency headquartered in Paris, France. Founded in 1835 as Havas, it is the world's oldest news agency.

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Source: Insider Paper