Inflation picked up slightly in March in Turkey to reach 68.5% year-on-year from 67.1% in February, according to official data released today by the Turkish Institute of Statistics (Tuik). A big increase in consumer prices, which rose 3.16 percent in March compared to February, was cited as one of the main reasons for the ruling AKP party's defeat in Sunday's municipal elections. A group of independent economists (Enag) estimates for its part that inflation reached 124.63% year-on-year in March in Turkey, with prices rising by 5.68% over the month. According to official data, the increase in prices, which is fueled by the almost permanent devaluation of the Turkish lira, particularly affects education (+140.1%), health (+80.25%), transport (+79 .9%) and food (+70.4%).
Source: News Beast
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