Turkey's annual inflation rate over 156 percent, says research group

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The Inflation Research Group (ENAG), a group of independent academics and economists, has announced that Turkey's annual inflation rate was 156.86 percent and the monthly inflation rate was 8.68 percent in April.

Releasing the official figures earlier in the day, the Turkish Statistical Institute (TurkStat) found the inflation rate was 70 percent.

ENAGrup Consumer Price Index (E-CPI) increased by 8.68% in April, 2022

E-CPI increased by 156.86% in the last 12 months.

— ENAG (@ENAGRUP) May 5, 2022

Among TurkStat's expenditure groups, price increases were the highest in the "clothing and footwear" group, according to the ENAG. The prices increased by 13.81 percent in this group in April.

It was followed by housing (11.51 percent), miscellaneous goods and services (9.36 percent), food and non-alcoholic beverages (9.31 percent) and restaurants and hotels (8.63 percent).

The products whose prices increased the most last month were natural gas (35 percent), T-shirts (25.39 percent), teflon kitchen utensils (24 percent), milk (22 percent), sunflower oil (20.83 percent) and yogurt (20.61 percent). (HA/VK)