Turkiye inflation up near 70pc in April, highest since 2022

Biggest annual rise was in education, for which prices rose 103.86pc, followed by restaurants and hotels at 95.82pcISTANBUL – Turkish annual consumer price inflation climbed to 69.8 per cent in April, official data showed on Friday, a bit below expectations but the highest since late 2022 on strong rises in education, restaurants and hotels prices.

"After annual inflation reaches its peak in May, it will begin to decline sharply in line with our predictions," Simsek said on social media platform X. According to the Turkish Statistical Institute, the biggest annual consumer price rise was in education, for which prices rose 103.86pc, followed by restaurants and hotels at 95.82pc. Food and non-alcoholic drinks prices were up 68.50pc.

The central bank has hiked interest rates by 3,650 basis points since June including a 500 basis-point rise in March due to deterioration in the inflation outlook.

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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