Turkey’s consumer price inflation rose for a second straight month in March, defying economists’ expectations for an easing, figures from the statistical office Turkstat showed Friday.
The consumer price index climbed 7.61 percent annually following a 7.55 percent rise in February. Economists had expected a 7.2 percent increase.
Month-on-month, consumer prices rose 1.19 percent in March. Economists had forecast a 0.8 percent gain.
The biggest monthly increase was a 2.47 percent rise in the food and non-alcoholic beverages component of the CPI. The largest decline was seen in communication costs that declined 0.03 percent.
The statistical office also released the producer price data for March, which revealed an unexpected increase in pipeline inflation.
The producer price index rose 3.41 percent annually after a 3.10 percent climb in February. Economists had expected the inflation figure to ease to 3.08 percent.
On a month-on-month basis, producer prices increased 1.05 percent in March. Economists had forecast a 1 percent rise.
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