Turkish March Inflation Accelerates Most in Month Since 2003
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Turkey’s month-on-month consumer price inflation unexpectedly accelerated to the highest level in the month of March since 2003, when Recep Tayyip Erdogan, now president, came to power as prime minister.
The inflation rate accelerated to 1.19 percent from 0.71 percent in February, the fastest increase for the month of March in 12 years. Annual inflation also accelerated unexpectedly, rising to 7.61 percent from 7.55 percent a month earlier, the statistics bureau said in a statement on its website. Economists were expecting a decline to 7.2 percent, according to a Bloomberg survey.