Highest Inflation Rate Over 8.5 Years: 11.29%

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Turkish Statistical Institute (TÜİK) has announced the inflation figures of March 2017.

In March 2017, consumer price index (TÜFE) marked an increase of 1.02% compared to last month, 11.29% compared to the same month of last year and 8.21% compared to the average of 12 months.

It exceeded the expectations

Economists attending AA Finance Inflation Expectation Survey, had foreseen a rise of 0.54% in the TÜFE in March. Expectation of the economists for the inflation rate was ranged between 0% and 0.85%.

Furthermore, the economists estimated annual inflation rate 10.77% for March, which was 10.13% in February.

In the TÜFE, the highest increase was seen in alcoholic beverages and tobacco products with 21.71%. (HK/TK)