Turkish inflation slows to 19.5% in April

slight decline from 19.71 per cent in March.

A near 30-per cent slide in the lira against the dollar last year pushed inflation to a 15-year high of more than 25 per cent in October. After a few months of declines, it has stalled this year at high levels and remains a major concern among investors.

The better than expected readings reflected “very depressed domestic demand conditions, with little pricing pressure from corporates,” said Timothy Ash of Bluebay Asset Management. “Some will also focus on the continued maintenance of price controls and question how accurate or realistic these inflation numbers are now,” he added.

Turkey’s central bank left its inflation forecasts unchanged at 14.6 per cent.