Turkey’s inflation rate tops 16 percent after 20 months

* Photo: Evrensel

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The Turkish Statistical Institute (TurkStat), the state agency commissioned with producing official statistics on the country, has released the "Consumer Price Index" for March 2021 today (April 5).

The consumer price index (CPI), also termed as consumer inflation, increased by 16.19 percent annually and 1.08 percent monthly.

When the annual inflation rate is considered, it is seen that the rate of inflation in March 2021 has marked the highest figure recorded since July 2019. Last month, the annual inflation rate was 15.61 percent.

Highest annual increase in transport

The lowest annual increase was 2.87 percent in alcoholic beverages and tobacco. Clothing and footwear with 7.43 percent, communication with 8.01 percent and education with 8.33 percent, were the other main groups where lowest annual increases were realized.

Transportation with 24.85 percent, furnishings and household equipment with 23.64 percent and miscellaneous goods and services with 21.49 percent were the main groups where high annual increases were realized.

Highest monthly increase in health

The lowest monthly increase was 0.04 percent in alcoholic beverages and tobacco. Furnishing and household equipment with 0.54 percent and housing with 0.70 percent were the other groups that indicated monthly decrease amongst the main groups.

In March 2021, there was no change in transportation main group. Health with 3.70 percent, education with 2.77 percent and hotels, cafes and restaurants with 2.60 percent were the main groups where high monthly increases were realized.

Increase in prices of 287 items

In March 2021, within average prices of 415 items in the index, the average prices of 93 items decreased and the average prices of 35 items remained unchanged while the average prices of 287 items increased. (HA/SD)