Experts forecast inflation will renew peak in March with 1.04 percent increase

Eyes have turned to March inflation data, which will be released by Turkstat on Monday. Annual inflation is expected to rise above 16 per cent and see a new peak.

TurkStat will announce March inflation figures tomorrow. The market’s median forecast is that the CPI will increase by 1.04 percent month-on-month. If that happens, annual inflation will have risen from 15.61 per cent to 16.10 per cent. In this case, the CPI, which has been on the rise for 5 months, will have renewed the 1.5-year peak in annual inflation. The CPI, which increased by 0.91 percent month-on-month in February, rose to its highest level after July 2019 at 15.61 percent year-on-year.

Inflation in Istanbul also remains at its peak. According to March data released by the Istanbul Chamber of Commerce (ITO) on April 1, retail prices increased by 1.13 percent in March in Istanbul compared to the previous month. Istanbul’s annual inflation also rose by 16.37 percent, marking a 19-month peak.