Turkey inflation above 16 per cent in test for new central bank chief

Publish April 6, 2021
banking

ISTANBUL: Turkey’s annual inflation climbed above 16 per cent in March for the first time since mid-2019, data showed on Monday, piling pressure on new central bank governor Sahap Kavcioglu to maintain tight policy after his surprise appointment.
Consumer prices were up 16.19 per cent year-on-year, higher than 16.11 per cent in a Reuters poll and 15.61 per cent in February. Inflation remains well above a 5 per cent official target and has been in double digits for most of the past four years.
Month-on-month CPI inflation was 1.08 per cent.

omanobserver

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