The Turkish Statistical Institute (TÜİK) announced the inflation data for April. Accordingly, the Consumer Price Index (CPI) increased by 4.18% on a monthly basis, while annual inflation rose to 32.37%. The Domestic Producer Price Index (D-PPI) increased by 3.17% month-on-month and by 28.59% year-on-year.
According to the data, CPI increased by 14.64% in the first four months of the year, while the 12-month average increase was recorded at 32.43%. In D-PPI, the increase since the beginning of the year was 10.99%.
Following the release of the inflation data, the rent increase rate to be applied in May was set at 32.43%.
On the industrial side, the highest annual increase was recorded in mining and quarrying at 40.42%, followed by manufacturing at 30.36%, water supply at 38.26%, and electricity and gas production and distribution at 7.19%.
On a monthly basis, D-PPI increased by 9.84% in mining and quarrying and by 3.59% in manufacturing, while electricity and gas production and distribution recorded a decrease of 4.96%.
Economists’ expectation was at 3.19%, while the announced monthly increase of 4.18% came in above expectations.
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