Turkey’s annual inflation hit its highest in more than eight years in March, surging to 11.3 per cent, as the prices of food, transport and beverages all showed double-digit increases, official data showed on Monday.
Consumer prices rose 1 per cent from the previous month, the data also showed, outstripping the 0.6 per cent increase predicted by a Reuters poll. Annual inflation was at its highest since October 2008.
Inflation has been stoked by chronic weakness in Turkey’s lira currency, which has been hit by political concerns and worries about the direction of monetary policy. The president Tayyip Erdogan has declared himself an “enemy” of interest rates, and repeatedly railed against what he says is the high cost of credit in Turkey.
The central bank has resorted to using unorthodox methods to tighten, fuelling investor concern it is wary of an outright rate hike. The surge in inflation may well be unwelcome news for Mr Erdogan, who is counting on broad support on April 16 in a referendum on constitutional change that would give him sweeping executive powers.
His adviser Bulent Gedikli said on Twitter that the upswing in inflation was temporary, and the impact of government measures would be seen from the second quarter onwards. He did not elaborate on the measures.
“It is possible to say that the inflation data is driven by the impact of foreign exchange rate, is temporary and that we will see the reflections of the measures taken from second quarter onwards,” he said following the release of the data.
Producer prices rose 16.1 per cent year-on-year, and 1 per cent month-on-month, the data also showed.
* Reuters
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RedCrow Intelligence Company Profile
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UAE currency: the story behind the money in your pockets
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Marathon results
Men:
1. Titus Ekiru(KEN) 2:06:13
2. Alphonce Simbu(TAN) 2:07:50
3. Reuben Kipyego(KEN) 2:08:25
4. Abel Kirui(KEN) 2:08:46
5. Felix Kemutai(KEN) 2:10:48
Women:
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How it works
1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground
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Pupils in Abu Dhabi are learning the importance of being active, eating well and leading a healthy lifestyle now and throughout adulthood, thanks to a newly launched programme 'Healthy Lifestyle'.
As part of the Healthy Lifestyle programme, specially trained coaches from City Football Schools, along with Healthpoint physicians have visited schools throughout Abu Dhabi to give fun and interactive lessons on working out regularly, making the right food choices, getting enough sleep and staying hydrated, just like their favourite footballers.
Organised by Manchester City FC and Healthpoint, Manchester City FC’s regional healthcare partner and part of Mubadala’s healthcare network, the ‘Healthy Lifestyle’ programme will visit 15 schools, meeting around 1,000 youngsters over the next five months.
Designed to give pupils all the information they need to improve their diet and fitness habits at home, at school and as they grow up, coaches from City Football Schools will work alongside teachers to lead the youngsters through a series of fun, creative and educational classes as well as activities, including playing football and other games.
Dr Mai Ahmed Al Jaber, head of public health at Healthpoint, said: “The programme has different aspects - diet, exercise, sleep and mental well-being. By having a focus on each of those and delivering information in a way that children can absorb easily it can help to address childhood obesity."
