People buy discounted clothes from a street vendor in Ankara, Türkiye, May 4, 2026. Türkiye's annual inflation rate rose to 32.37 percent in April from 30.87 percent in March amid ongoing tensions in the Middle East, according to official data released Monday. (Mustafa Kaya/Handout via Xinhua)

ANKARA, May 4 (Xinhua) -- Türkiye's annual inflation rate rose to 32.37 percent in April from 30.87 percent in March amid ongoing tensions in the Middle East, according to official data released Monday.

Data from the Turkish Statistical Institute showed that consumer prices rose by a more-than-expected 4.18 percent on a month-over-month basis in April, compared with 1.94 percent in March, driven by energy, transportation, housing and food prices.

The monthly figure surpasses economists' consensus estimate of 3.30 percent, signaling accelerated price growth in the reporting period.

Türkiye has been wrestling with high inflation since a 2018 currency crisis, and elevated price pressures have eroded the purchasing power of households and businesses, with a peak of over 85 percent at the end of 2022.

The country's central bank has been gradually cutting its benchmark one-week repo rate since mid-2025.

However, the bank kept its key policy rate unchanged at 37 percent in March and April, pausing an easing cycle as tensions in the Middle East complicate the country's economic outlook. ■

A man shops at a local bazaar in Ankara, Türkiye, May 4, 2026. Türkiye's annual inflation rate rose to 32.37 percent in April from 30.87 percent in March amid ongoing tensions in the Middle East, according to official data released Monday. (Mustafa Kaya/Handout via Xinhua)

People shop at a local bazaar in Ankara, Türkiye, May 4, 2026. Türkiye's annual inflation rate rose to 32.37 percent in April from 30.87 percent in March amid ongoing tensions in the Middle East, according to official data released Monday. (Mustafa Kaya/Handout via Xinhua)