06.05.2025 21:15
According to the Central Bank's April Price Developments report, annual inflation increased in the energy and core goods categories, while it recorded a decline in other groups. The 42.10% increase in prices for air passenger transportation in one month was particularly noteworthy.
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The Central Bank of the Republic of Turkey (CBRT) published the April Price Developments Report. According to the report, while annual inflation increased in energy and basic goods groups, it recorded a decrease in other groups. The groups that stood out with monthly price increases were energy and basic goods.
FUEL PRICES HAVE DECREASED SLIGHTLY
The price increase in the energy group was driven by the adjustment in residential tariffs, particularly in the electricity item. As a result of the decrease in international crude oil prices being largely balanced by exchange rate developments, fuel prices, which have decreased slightly, limited the monthly energy group inflation. The impact of the recent depreciation of the Turkish lira was felt on basic goods prices, especially durable consumer goods.
Additionally, in the clothing and footwear subgroup, the price increase due to the seasonal transition was stronger than in previous years and was another factor that raised monthly basic goods inflation. While the price increase in the food group slowed compared to the previous month, the correction in vegetable prices played a significant role in this development.
INCREASE IN THE SERVICES GROUP
In the services group, the monthly price increase rose slightly compared to the previous month, with the transportation services showing a significant price increase due to the holiday effect and the reflections of red meat price developments being prominent in the restaurant-hotel subgroup. While monthly producer inflation increased compared to the previous month, the downward trend in annual producer inflation was maintained. The monthly increases in seasonally adjusted B and C indices strengthened, but the annual growth rates continued to decline.
INFLATION INCREASED IN APRIL
When all indicators are evaluated together, it was observed that the main trend of inflation increased in April. When examining the contributions to annual consumer inflation, the contributions of energy and basic goods groups increased by 0.45 and 0.35 points, respectively, compared to the previous month, while the contributions of services, alcohol-tobacco-gold, and food and non-alcoholic beverages groups decreased by 0.40, 0.34, and 0.30 points, respectively.
42% INCREASE IN AIR TRANSPORTATION PRICES
According to the report, annual inflation decreased in all subgroups, especially in communication. On a monthly basis, transportation services, which increased by 5.75% due to the holiday effect, drew attention. In this development, significant increases in intercity passenger transportation by road (13.22%) and air passenger transportation (42.10%) were effective.
RENT MONTHLY INFLATION AT 3.20%
Rent monthly inflation continued its weakening trend observed in the last two months, reaching 3.20%, influenced by the decrease in the contract renewal rate. The monthly inflation of the restaurant-hotel group, which slowed down after January, increased in April due to both food and accommodation services. The reflections of red meat prices were felt in food services, while the depreciation of the Turkish lira was reflected in accommodation services.
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