Month-on-month, consumer prices rose 7.25{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9}, the Turkish Statistical Institute said, compared to a Reuters poll forecast of 6{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9}. Annually, consumer price inflation was forecast to be 68{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9}.
The surge in consumer prices was driven by a 105.9{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9} leap in the transportation sector, which includes energy prices, and a 89.1{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9} jump in food and non-alcoholic drinks prices, the data showed.
Month-on-month, food and non-alcoholic drink prices rose the most with 13.38{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9} and house prices rose 7.43{3b930a6ca12a59604e1bbadfc55b7d1b7a0aa8613f1ab9377cace0d5afcb5fb9}.
The government has said inflation will fall under its new economic programme, which prioritises low interest rates to boost production and exports with the goal of achieving a current account surplus.
However, economists see inflation remaining high for the rest of 2022 due to the Ukraine war.
