Bullish indicating open at $55-$60, IPO prices at $37
Investing.com -- The Turkish Statistical Institute reported on Monday that the country’s inflation rate increased by 3% in April, reaching an annual rate of 37.86%. This figure is slightly below the forecast predicted in a recent poll.
The sectors that contributed most to the yearly increase in inflation were education, housing, and restaurant prices. Additionally, the monthly inflation was influenced by the cost of clothing, housing, and transportation.
Earlier predictions suggested that the monthly inflation rate for April would rise to 3.1%, primarily due to energy costs and foreign exchange pass-through. The same forecast predicted the annual rate to decrease to 38%.
In contrast, the inflation rate in March was 2.46% on a monthly basis and 38.1% on an annual basis.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.