The Central Bank has released the Monthly Price Developments Report for March.
With monthly consumer prices rising by 1.08% in March, Turkey’s annual inflation had increased to 16.19% yoy.
The bank underlines that the rise in inflation was mainly driven by core goods, food and energy groups while inflation slowed down in the food group.
The producer price inflation at 31% yoy, posted further increase and the bank explains that the global commodity prices, especially oil and industrial metals were to blame along with the weak TL and the ongoing supply difficulties for some products.
The central bank notes that against this background, annual inflation of the B and C indices increased while their trends declined slightly though still remaining elevated.
The next Monetray Policy Council is scheduled for April 15. From the current policy rate of 19%, no change is expected from the central bank despite the cgange of Governor on March 19.