Türkiye’s consumer price inflation eased further in April to the lowest in more than three years, figures from the Turkish Statistical Institute showed on Monday.
Consumer price inflation softened to 37.86% in April from 38.1% in March. This was the lowest rate since December 2021, when prices had risen 36.08%. The rate was forecast to slow to 38%.
The annual price growth in food and non-alcoholic beverages eased to 36.09% from 37.12%.
Similarly, price growth in furnishings and household equipment moderated to 30.54% from 32.41%. Meanwhile, housing costs grew at an accelerated pace of 74.07%.
On a monthly basis, inflation rose slightly to 3.0% from 2.46% in the previous month.
Another report from the statistical office showed that producer prices climbed 22.5% in April from a year ago. However, this was weaker than March’s 23.5% increase and also reached the lowest since October 2020.
Prices of mining and quarrying climbed 29.59%, and manufacturing reported a 22.65% rise.
Producer prices of electricity, gas, steam, and air conditioning grew 14.45% and advanced 58.14% for water supply.
Month-on-month, producer prices moved up 2.76% after rising 1.88% in the prior month.