Inflation in Turkey has already accumulated 6 months of consecutive decline, after the inflation data for April in the Eurasian country stood at 43.68%, according to the report published by the Turkish Statistical Institute (TÜİK), a figure below from forecasts. Compared to the previous month, prices in April grew by 2.39%, also below market expectations. The highest year-on-year increase in prices was registered in the health sector (66.62%), and the lowest in clothing and footwear (13.82%). By the end of 2023, the Turkish Central Bank expects inflation to decline to 22.3%.
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Pablo Gómez is a specialist in Turkey and has been editor-in-chief of Hispanatolia since 2011. He has been analysing current affairs and geopolitics in Turkey and the surrounding region since 2006.
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