Inflation in Turkey increases by 0.99 in March 2018 to exceed expectations

Turkey is not very pleased with inflation results which showed an increase of 0.99 percent in March, 2018. Based on data provided by Turkish Statistical Institute (TSI) the increase in inflation went up to 10.23 percent on annual basis. Despite optimistic statements made by officials about the performance of economy in the country the inflation issue seems to be a trued headache for the administration. The figures issued by TSI regarding the performance in March 2018 only verify this undesired picture.

According to said data, in March 2018 the Consumer Price Index (TFPI) increased by 0.99 percent (forecast was 0.95 percent) on month-on-month basis and the Domestic Producer Price Index (PPI) increased by 1.54 percent. Annual inflation was 10.23 percent in consumer prices and 14.28 percent in domestic producer prices.

Considering the 12-month averages as of March, consumer prices increased by 11.14 percent and domestic producer prices increased by 15.35 percent. On the other hand the TUFE (Consumer Price Index) increased by 0.99 percent on monthly basis.