The inflation rate for March came in below expectations at 2.46% on a monthly basis. The annual inflation rate also decreased to 38.10%.

The Turkish Statistical Institute (TÜİK) announced the inflation figures for March. Inflation increased by 2.46% on a monthly basis in March. The annual inflation rate, on the other hand, decreased to 38.10%. Economists had predicted that inflation would rise by 2.87% in March. The 12-month inflation indicator, which determines the rent hike ceiling, stood at 51.26%.

HIGHEST CONTRIBUTION FROM FOOD AND NON-ALCOHOLIC BEVERAGES
The expenditure group with the highest increase in March was food and non-alcoholic beverages, rising by 4.94%. Transportation saw a 0.25% increase, while housing experienced a 2.10% increase. The highest contribution to inflation in March came from food and non-alcoholic beverages, contributing 1.23 points. Transportation and housing had monthly changes of 0.04% and 0.33% respectively. The highest annual increase in March was in the education group, with 80.42%. This was followed by housing at 68.63% and alcoholic beverages and tobacco at 46.74%.

CORE INDICATORS RISE
Excluding unprocessed food products, energy, alcoholic beverages and tobacco, and gold, the special core CPI indicator, which is calculated, increased by 1.30% on a monthly basis. Core inflation in March stood at 36.99% annually. Producer prices (PPI) increased by 1.88% in March. PPI rose by 23.50% compared to the same month of the previous year.