Consumer prices rose by an average of 68.5 percent compared to the same month last year. This is the highest value since the end of 2022.
In February, the inflation rate was still around 67.1 percent. The sharp rise in the cost of living is seen as one reason for the defeat of President Recep Tayyip Erdoğan's AKP in local elections last weekend. The opposition was able to prevail in numerous major cities – including Istanbul. The Turkish national currency, the lira, has lost considerable value in recent years.