ANKARA, April 25 (Xinhua) -- The 12-month-ahead inflation expectations in Türkiye rose to 25.6 percent for market participants in April, up one percentage point compared with March, showed a survey published Friday by Türkiye's central bank.
The survey "Sectoral Inflation Expectations" also showed that 12-month-ahead inflation expectations increased to 41.7 percent for the real sector in the same period, up 0.6 percentage points compared with last month.
Meanwhile, household expectations remained unchanged at 59.3 percent, the survey showed.
"Although there was a limited increase compared to the previous month, the general trend is positive," Turkish Treasury and Finance Minister Mehmet Simsek said Friday on social media platform X, commenting on the survey.
The Turkish government is taking all necessary steps to shield the economy from domestic and international risks, he said, pointing to tighter financial conditions, the economic program being implemented, and falling commodity prices as key drivers supporting disinflation.
He said inflation will fall within the forecast range set by the central bank by the end of 2024.
Türkiye has been grappling with rising inflation for years. From June 2023 to March 2024, the central bank raised its key interest rate from 8.5 percent to 50 percent to tighten monetary policy and stepped into an easing cycle at the end of last year, supported by improving inflation indicators.
In early April, official data showed that Türkiye's annual inflation decreased for the 10th consecutive month in March, easing to 38.1 percent down from February's 39.1 percent, the lowest level since December 2021.
Nevertheless, on April 17, the central bank raised its key interest rate by 350 points, from 42.5 percent to 46 percent, reversing its previous easing cycle.
Official data from the Turkish Statistical Institute showed Tuesday that the consumer confidence index in Türkiye decreased 2.3 percent from a month ago to 83.9 points in April.
