Hakan Kara evaluates TurkStat inflation: 'Still very high'

The Turkish Statistical Institute (TurkStat) has announced the inflation data for March. According to TurkStat, inflation was determined to be 3.16 percent.

Former Chief Economist of the Central Bank of the Republic of Türkiye (CBRT) Hakan Kara,  made evaluations regarding the inflation data announced by TurkStat on his X account. Kara stated, "The official price increase for the first 3 months was 15.1%."

Kara's post is as follows:

"The official price increase for the first 3 months was 15.1%. 

For the year-end target of 36% to be met, prices need to increase by 18% in the remaining 9 months."

The official price increase for the first 3 months was 15.1%.
For the year-end target of 36% to be met, prices need to increase by 18% in the remaining 9 months. https://t.co/7uz5yBFX74

— Hakan Kara (@ali_hakan_kara) April 3, 2024

Stating that inflation is still very high, Kara drew attention to core inflation. Kara used the following expressions in his post:

"I calculate the seasonally adjusted monthly increases of core inflation indicators (B and C) as 3.8% and 4%.

The inflation trend is still very high."

I calculate the seasonally adjusted monthly increases of core inflation indicators (B and C) as 3.8% and 4%.
The inflation trend is still very high.

— Hakan Kara (@ali_hakan_kara) April 3, 2024

News Source: 12punto