Turkey’s annual inflation rate fell to 37.9% in April, showing a continued downward trend from its peak last year.
According to the Turkish Statistical Institute, the easing comes after aggressive interest rate hikes and monetary tightening by the central bank.
Food and energy prices, which were previously volatile, have begun to stabilize, contributing to the decline. However, analysts warn that inflationary pressures remain due to currency depreciation and global economic uncertainty.
The Turkish government has vowed to keep interest rates high until inflation drops below 10%, in line with long-term targets.
The inflation crisis has been a key issue ahead of Turkey’s municipal elections.
