The inflation rate in March came in below expectations at 2.46% on a monthly basis. The annual inflation rate also decreased to 38.10%.

The Turkish Statistical Institute (TurkStat) announced the inflation figures for March. Inflation increased by 2.46% on a monthly basis in March, while the annual inflation rate decreased to 38.10%. Economists had predicted a 2.87% increase in inflation for March.

The 12-month average inflation rate, which determines the maximum rent increase amount, stood at 51.26%.

IMPACT OF FOOD AND NON-ALCOHOLIC BEVERAGES The highest increase in expenditure groups in March was seen in food and non-alcoholic beverages, with 4.94%. There were also increases of 0.25% in transportation and 2.10% in housing. The effects of the relevant main groups on monthly changes were 1.23% for food and non-alcoholic beverages, 0.04% for transportation, and 0.33% for housing.

The highest annual increase in March was 80.42% in the education group, followed by 68.63% for housing, and 46.74% for alcoholic beverages and tobacco.

CORE INDICATORS ALSO ROSE The special comprehensive CPI indicator, excluding unprocessed food products, energy, alcoholic beverages, tobacco, and gold, rose by 1.30% on a monthly basis. Core inflation in March stood at 36.99% annually.

Producer prices (PPI) increased by 1.88% in March. PPI rose by 23.50% compared to the same month of the previous year.