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Turkey's annual inflation hits nine-year high in April

Xinhua, May 3, 2017 Adjust font size:

Turkey's annual inflation rate in April climbed to its highest level in about nine years, according to official data released on Wednesday.

According to data from the Turkish Statistics Institute, consumer prices index (CPI) in April rose 11.87 percent year on year, the highest level since October 2008.

As for monthly comparing, April's CPI was driven by food prices which increased 1.23 percent from a month earlier. In some supermarkets, the price of main vegetables like tomatoes jumped 70 percent in recent weeks.

The highest annual hike was in the alcoholic beverages and tobacco category with 21.65 percent, followed by transportation with 17.94 percent.

The Turkish Central Bank has raised its inflation forecast for 2017 to 8.5 percent, up from its previous 8 percent on April 28. Endit