Turkey's annual inflation rises to 2-year high of 17.14% in April
People shop near the Spice Bazaar in the Eminönü neighborhood on the European side of Istanbul, Turkey, April 27, 2021. (AFP Photo)


Turkey’s annual consumer price inflation surged to 17.14% year-on-year in April, official data showed Monday.

The figure was up from 16.19% in March, rising 1.68% month-on-month, the Turkish Statistical Institute (TurkStat) said.

TurkStat said the highest annual increase was 29.31% in transportation in April while alcoholic beverages and tobacco prices saw the smallest increase with 3.60%.

Last week, an Anadolu Agency (AA) survey showed that a group of 20 economists forecast an average annual climb of 17.27% in consumer prices.

On a monthly basis, the consumer price index climbed by 1.68% in April.

The median of estimates for April by economists was a 1.79% rise compared to the previous month.

An infographic showing the annual rates of change in Turkey's Consumer Price Index (CPI). (By Ayla Coşkun / Daily Sabah)

TurkStat data showed that the highest monthly rise in consumer prices was seen in clothing and footwear with 7.57%.

It was followed with food and non-alcoholic beverages with 2.13% and education with 2.09%.

Among the main expenditure groups, the highest monthly decrease was in communication with a 0.28% decline, it added.

The Central Bank of the Republic of Turkey (CBRT) forecasts the country's year-end inflation to hit 12.2% this year.

The government's year-end inflation rate target is 8% for 2021, under the new economic program announced last September.

Since the beginning of this year, annual inflation rose steeply from 14.60% in December 2020. The figure was 14.97% in January and 15.61% in February.