Turkey's annual inflation slips to 11.86 pct in March

ANKARA - Anadolu Agency

Consumer prices in Turkey went up 11.86 percent in March compared to the same month last year, the Turkish Statistical Institute (TÜİK) announced on March 3.

The annual inflation rate in March was down from 12.37 percent the previous month, according to TÜİK.

The highest price rise last month was seen in alcoholic beverages and tobacco, surging 40.19 percent on a yearly basis.

A group of 14 economists polled by Anadolu Agency on March 31 forecasted that consumer prices in Turkey would rise 18.81 percent year-on-year.

TÜİK data showed that on a monthly basis, consumer prices rose 0.57 percent in March, in line with market expectations.

The median of estimates for March by 14 economists was a 0.53 percent rise compared to February.

Turkish government targeted 8.5 percent of the inflation rate for this year as laid out in its new economic program for 2020-2022 announced last September.

Turkey's Central Bank forecasts year-end inflation to be at 8.2 percent in 2020.