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The data announced by the Turkish Statistical Institute (TurkStat) have shown that while the Consumer Price Index (TÜFE) on annual basis has increased by 0.99 percent in March, the Domestic Producer Price Index (Yİ-ÜFE) has increased by 1.54 percent. The annual inflation rate has become 10.23 percent in consumer prices and become 14.28 percent in producer prices.
According to the data shared by TurkStat, when the 12-month averages are taken into account as of March, the consumer prices have increased by 11.14 percent and the domestic producer prices have increased by 15.35 percent. The Consumer Price Index on monthly basis has increased by 0.99 percent while the Domestic Producer Price Index on monthly basis has increased by 1.54 percent.
In March, the Consumer Price Index has increased by 2.77 percent in comparison with December 2017 and increased by 10.23 percent in comparison with March 2017. As for the Domestic Producer Price Index in March, it has increased by 5.29 percent in comparison with December 2017 and increased by 14.28 percent in comparison with March 2017.
Annual rate of inflation has exceeded expectations
The monthly rate of inflation for March 2018 was expected by the economists participating in the state-run Anadolu Agency’s Inflation Expectation Survey as 0.95 percent in average. According to this average, the rate of annual inflation for 2018, which was measured as 10.26 percent in February 2018, was foreseen to decrease to 10.19 percent.
The average of the economists’ expectations for the end of 2018 was also specified as 9.62 percent. (HK/SD)