The Turkish Statistics Authority announced on Monday that consumer price inflation in Turkey fell to 50.51% in March on an annual basis.
Inflation in Turkey was exacerbated by the currency crisis that the country witnessed at the end of 2021, and pushed consumer prices to reach a 24-year peak above 85% last October, before inflation fell supported by a rise in the comparison basis to 55.2% last February.
After the publication of the data, the lira recorded a slight decline to 19.2020 liras per dollar compared to 19.9600 before publication, and touched during the past days' trading a series of record declines.
Consumer prices in March rose 2.29% month-on-month, lower than expected in a Reuters poll of 2.85%.
The southeast of the country was hit by severe earthquakes that killed more than 50,100 people and displaced millions, and the related cost is expected to exceed $<> billion and wipe out one to two percentage points of the country's economic growth this year.
Turkey's central bank last month left interest rates unchanged after cutting it to 8.5 percent to support growth and employment in the wake of the disaster.
The CPI measures changes in the overall price level, by tracking a basket that includes all goods and services consumed within a given country.