Financial News: Turkey Inflation Eases To 37.86%, Lowest In 40

Turkey Inflation Eases To 37.86%, Lowest In 40 Months

(RTTNews) - Turkey's consumer price inflation eased further in April to the lowest in more than three years, figures from the Turkish Statistical Institute showed on Monday.

Consumer price inflation softened to 37.86 percent in April from 38.10 percent in March.

This was the lowest rate since December 2021, when prices had risen 36.08 percent. The rate was forecast to slow to 38.0 percent.

The annual price growth in food and non-alcoholic beverages eased to 36.09 percent from 37.12 percent. Similarly, price growth in furnishings and household equipment moderated to 30.54 from 32.41 percent. Meanwhile, housing costs grew at an accelerated pace of 74.07 percent.

On a monthly basis, inflation rose slightly to 3.0 percent from 2.46 percent in the previous month.

Another report from the statistical office showed that producer prices climbed 22.50 percent in April from a year ago. However, this was weaker than March's 23.50 percent increase and also reached the lowest since October 2020.

Prices of mining and quarrying climbed 29.59 percent, and manufacturing reported a 22.65 percent rise. Producer prices of electricity, gas, steam, and air conditioning grew 14.45 percent and advanced 58.14 percent for water supply.

Month-on-month, producer prices moved up 2.76 percent after rising 1.88 percent in the prior month.

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