TÜİK announces March inflation! Şeref Oğuz: 'It continues to torture the figures'

The Turkish Statistical Institute (TÜİK) announced March inflation at 3.16 percent, while ENAG announced it at 5.68 percent. Şeref Oğuz evaluated the data from TÜİK and ENAG on the 'Para Politikası' program with Ebru Baki on Sözcü TV.

In his assessment, Oğuz expressed that he does not trust TÜİK data.

Highlights from Oğuz's speech are as follows:

"TÜİK continues to torture the figures. I am not saying this because of the difference between it and ENAG. The markets say one thing, and TÜİK says another. The public says one thing, and TÜİK says another. Retirees are crying out, 'I am hungry.' The government says, 'If I give you too much, you will become a bottomless pit, I cannot sink the economy,' and this secondary institution appears before us here as well.

Since I do not know ENAG's methodology, I view it with caution. I do not believe TÜİK because TÜİK is torturing the figures. I find the ITO (Istanbul Chamber of Commerce) Consumer Index data more realistic, as one in every 7 people lives in Istanbul. It reported around 4 percent monthly.

As long as it deceives the government with TÜİK's figures, and since TÜİK is one of the institutions the government has eroded, it provides the government with misinformation, which in turn causes the economic measures to be taken subsequently to be wrong."

News Source: 12punto