Turkey: Inflation falls to a nearly three-year low in April
May 3, 2016
In April, consumer prices rose 0.78% over the previous month, which contrasted March’s 0.04% drop. According to the statistical office, April’s increase came on the back of much higher prices for clothing and footwear and, to a lesser extent, for education and recreation and culture.
Inflation fell from March’s 7.5% to 6.6% in April. The print came in below the 6.9% that market analysts’ had expected and represented the lowest reading since May 2013.
The core prices index, which excludes more volatile categories, such as unprocessed food and energy, increased 1.53% in April over the previous month (March: +0.44% month-on-month). Core inflation inched down from March’s 9.7% to 9.5%. April’s data highlight the divergence between the evolution of core and overall prices due to a sharp decline in food prices.