Turkey Inflation Rate Rises in April

Turkish consumer prices increased 7.91 percent year-on-year in April of 2015, following a 7.61 percent rise in the previous month. It is the highest inflation rate in four months due to rising food prices.

Year-on-year, prices of food and non-alcoholic beverages recorded the highest increase (14.36 percent), followed by hotels, cafes and restaurants (13.34 percent), miscellaneous goods and services (9.9 percent), housing and utilities (8.21 percent) and education (7.88 percent). In contrast, transport prices fell 0.52 percent. 

On a monthly basis, consumer prices increased 1.63 percent, the fastest pace in six months and more than market forecasts. The highest monthly increase was 12.30 percent for clothing and footwear. Prices also rose for food and non-alcoholic beverages (1.63 percent), furnishings and household equipment (1.35 percent), hotels, cafes and restaurants (1.27 percent) and miscellaneous goods and services (1.24 percent).

Later in April, the central bank increased its inflation forecasts to 6.8 percent by the end of 2015 from 5.5 percent, citing a weakening lira and higher oil prices.

Turkey Inflation Rate Rises in April

Turkstat | Joana Taborda | joana.taborda@tradingeconomics.com
5/4/2015 8:40:53 AM