Turkey’s inflation surges to 68.5% in March

The Turkish Statistical Institute (TurkStat) has released the inflation data for March. According to the data, the consumer price index (CPI) increased by 3.16% on a monthly basis and 68.50% on an annual basis.

TurkStat had previously announced the monthly inflation for February as 6.70% and the annual inflation as 64.86%.

The main group showing the least increase compared to the same month of the previous year was clothing and footwear, with 50.10%. On the other hand, the highest increase occurred in education, with 104.07%.

On a monthly basis, the only main group showing a decrease was alcoholic beverages and tobacco, with -0.02%. The highest increase was in education, with 13.08%.

Item price list not published 

TurkStat did not publish the basket of goods list this month, which it stopped releasing along with the data it published on June 4, 2022.

However, the Confederation of Revolutionary Workers' Unions of Turkey (DİSK) had sued TurkStat on this issue, and the Ankara 6th Administrative Court had ruled on March 31, 2023, that the information requested by DİSK from TurkStat within the framework of the right to information was information that the labor confederation should have as part of its duties. TurkStat lost its appeal case as well.

According to TurkStat, which publishes expenditure group statistics instead of the basket of goods list, there was a decrease in 14 out of 143 basic headings covered in the index, an increase in 121, and no change in 8.

ENAG calculation

The Inflation Research Group (ENAG), established by academics and economists alongside TurkStat, also published its own data.

According to ENAG, inflation increased by 5.68% in March. The 12-month increase was 124.63%.

Additionally, according to ENAG, the communication group decreased by 0.64% on a monthly basis. The highest increase was in clothing and footwear, with 10.32%. (HA/VK)