Turkey’s annual inflation rate rose to 32.37 percent in April, up from 30.9 percent in March and above expectations, official data showed on Monday.
On a monthly basis consumer prices stood at 4.18 percent, up from 1.9 percent in March, driven mainly by increases in housing, water, electricity, gas and other fuels, according to the Turkish Statistical Agency (TurkStat).
Finance Minister Mehmet Şimşek downplayed the April increase in a post on X on Monday, saying the rise was temporary and pointing to higher energy and commodity prices caused by geopolitical developments, an apparent reference to the impact of the US-Israeli war with Iran.
Nisanda enflasyon aylık yüzde 4,2, yıllık yüzde 32,4 gerçekleşti.
Hizmetlerde enflasyon geçen yılın aynı dönemine göre 14,3 puan iyileşerek yıllık yüzde 40,3, temel mallarda yüzde 16,5 oldu.
Jeopolitik gelişmelerin etkisiyle artan enerji ve emtia fiyatları kısa vadede enflasyon… pic.twitter.com/zoE9YA6WE2
— Mehmet Simsek (@memetsimsek) May 4, 2026
Şimşek said the government was taking steps within budget limits to contain the impact and expected disinflation to continue.
The latest increase marks a shift from the relative easing seen in previous months and shows how external pressures are reaching consumers.
Higher oil prices have pushed up gasoline and diesel costs in Turkey, making transport more expensive and raising costs for businesses that rely on fuel for production and distribution.
Because Turkey imports most of its energy, increases in global oil and natural gas prices quickly affect fuel, electricity and heating costs. These costs then feed into a wide range of goods and services, from food deliveries and public transport to housing expenses and factory production, contributing to April’s monthly inflation rate of 4.18 percent.
The figures, however, were disputed by independent economists from the Inflation Research Group (ENAG), who estimated that consumer prices rose 55.38 percent year-on-year in April.
ENAG regularly challenges official inflation data.
Turkey has grappled with double-digit inflation since 2019, with annual inflation remaining above 30 percent for the past four years.
Inflation peaked above 75 percent in May 2024 before starting to ease.
© Agence France-Presse