Turkish inflation climbed 3% in April to stand at 37.86% annually, according to the Turkish Statistical Institute data on Monday, slightly lower than a Reuters poll forecast.
Education, housing and restaurant prices led the rise in the annual print while clothing, housing and transportation added to the monthly inflation, according to data.
In a Reuters poll, monthly inflation rate was expected to climb to 3.1% in April on the back of energy prices and FX pass-through, with the annual rate seen sliding to 38%.
In March, inflation stood at 2.46% on a monthly basis and 38.1% annually.
Economists have said a hike in electricity and natural gas prices, rising unprocessed food prices and prices of items that are directly impacted by currency volatility, caused the spike in the monthly inflation.
In March, Turkish lira and assets suffered after Istanbul Mayor Ekrem Imamoglu - Erdogan's main political rival - was jailed over graft charges pending a trial. The currency later recovered but stood some 5% weaker compared to before the incident.
The domestic producer price index rose 2.76% month-on-month in April for an annual rise of 22.5%, the data showed.
Turkish April Inflation at 3% Monthly, Stood at 37.86% Annually
Tourists sail through Bosphorus on a boat to enjoy the historical sightseeings of in Istanbul, Türkiye, April 25, 2025. REUTERS/Umit Bektas
Turkish April Inflation at 3% Monthly, Stood at 37.86% Annually
Tourists sail through Bosphorus on a boat to enjoy the historical sightseeings of in Istanbul, Türkiye, April 25, 2025. REUTERS/Umit Bektas
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