Turkish consumer prices rose 7.61 percent year-on-year in March of 2015, up from 7.55 percent in February as food prices rose at its fastest pace in four months.
Figures came above market expectations of a slowdown in inflation.
Year-on-year, cost of food and non-alcoholic beverages recorded the highest increase (14.12 percent, from 13.7 percent in Februray) and prices of housing and utilities rose 8.03 percent (7.5 percent in February).
Additional upward pressures came from hotels, cafes and restaurants (12.76 percent), miscellaneous goods and services (8.44percent) and health. In contrast, transport prices fell 1.47 percent (-1.49 percent in the previous month).
The central bank expects inflation to be 5.5 percent at the end of 2015, dragged down by lower oil prices. However, consumer prices edged up for the second straight month in March, remaining well above the central bank target due to a weakening lira and higher food prices.
On a monthly basis, consumer prices rose 1.19 percent in March, the highest rate in five months.
4/3/2015 8:59:26 AM