ANNUAL INFLATION HITS 20̞YEAR HIGH

Monthly inflation was recorded as 7.25% while annual inflation rose from 61.14% to 69.97% in April, compared to the previous month, according to the Turkish Statistical Institute (TurkStat). Thus, annual inflation has hit a 20-year high. Consumer inflation exceeded forecasts with the adverse impact of the sharp price hike in the food group. Inflation will exceed the Central Bank’s estimation of 70-75% in May, while the year-end inflation will reach 55%, according to experts, who also expect food prices to continue to have a high course, especially due to problems in greenhouses. The domestic producer price index (D -PPI) rose by 7.67% in April, while the annual producer inflation increased from 114.97% to 121.82% last month compared to March. Thus, the annual D -PPI has seen its highest level since 1995.