Turkey’s inflation surges to 69.8%, highest since late-2022

By MG News | May 04, 2024 at 09:29 PM GMT+05:00

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May 04, 2024 (MLN): Turkey's consumer price index (CPI) surged by 69.8% YoY in April 2024, the highest since November 2022, data issued by the Turkish Statistical Institute showed.

On a sequential basis, it jumped 3.18% MoM, as compared to 3.16% in the previous month.

According to the twelve-month averages, the CPI was 59.64% YoY.

The main group that showed the least increase compared to the same month of the previous year was clothing and shoes with 51.20%.

On the other hand, the main group with the highest increase compared to the same month of the previous year was education with 103.86%.

Moreover, the change in CPI, excluding unprocessed food products, energy, alcoholic beverages and tobacco and gold, was 3.24% MoM in April 2024.

It was 72.72% compared to the same month of the previous year and 64.57% according to twelve-month averages.

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