Inflation and Foreign Trade Data for the Month of April

Inflation Figures for the Month of April

According to the data released by the Turkish Statistical Institute (TÜİK), inflation in April was 3.18% on a monthly basis and 69.80% on an annual basis. In his evaluation, Economist Assoc. Prof. Batuhan Tufaner stated, “We will see the peak of inflation in May and there might be a decrease in inflation after June.”

Inflation Figures

• Monthly increase in CPI is 3.18%
• Monthly increase in PPI is 3.60%
• Annual CPI inflation is 69.80%
• In April, CPI increased by 59.64% compared to the 12-month average

Evaluation by Economist Assoc. Prof. Batuhan Tufaner

Assoc. Prof. Batuhan Tufaner: “Assoc. Prof. Batuhan Tufaner mentioned that the increases in the prices of alcoholic beverages and tobacco had an impact on the rise in inflation, the rise in the service sector continued, and the increase in producer inflation was related to the rise in input costs. He expressed that the peak will be seen in May and inflation may decrease after June.”

Foreign Trade Data

Assoc. Prof. Batuhan Tufaner stated regarding the foreign trade data, “With the effects of tightening policies, the trade deficit will continue to decrease.” It was reported that exports increased by 2.7% and imports decreased by 8.9%. It was emphasized that the trade deficit decreased by around 30% in the first 4 months of the year.