Turkiye's inflation hits estimated 70% in March

Inflation climbed by 6.7 per cent in January, while it was 4.53 per cent in February.

Retail prices in Istanbul rose by 3.93 per cent monthly in March, the Istanbul Chamber of Commerce (ITO) said.

The index reflecting wholesale price movements recorded a 63.21 per cent increase year on year.

Clothing expenses saw an increase 8.96 per cent in March, according to Turkish media reports.

The Turkish lira depreciated more than 36 per cent against the US dollar last year and is some 8.6 per cent weaker to date this year.

ALCHEMPro News Desk (DS)