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Investing.com -- The annual inflation rate in Turkey increased by 3% in April, reaching 37.86%, according to data released by the Turkish Statistical Institute on Monday.
This figure was slightly below the forecast, which predicted that the monthly inflation rate would rise to 3.1% in April.
The increase in the annual inflation rate was primarily driven by hikes in education, housing, and restaurant prices.
On a monthly basis, the inflation was influenced by rising costs in clothing, housing, and transportation sectors.
The inflation rate in March was recorded at 2.46% on a monthly basis and 38.1% on an annual basis.
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