13.05.2025 – (04:30 PM)

The inflation rate plays a key role in assessing the economic health of a country. In order to achieve economic development, there needs to be a reasonable inflation rate. If the inflation rate exceeds the reasonable rate, it will seriously affect the ability of the people to meet their daily needs. The average inflation rate estimated for the 2024-2025 fiscal year is 13.65 percent, and the average inflation rate in March 2024 was 27.53 percent, which is a significant event for the economic sector in 2024.

The average inflation rate estimated for the 2024-2025 fiscal year is 13.65 percent, according to the budget data for the fiscal year 2024-2025.

The Central Statistics Office calculated the consumer price index, which uses 2017 as the base year, as the average inflation rate in March 2024 was 27.53 percent, and the annual inflation rate was 25.33 percent.

The Core CPI, which excludes food and fuel prices, averaged 21.61 percent and annualized 18.96 percent.

The annual inflation rate for the food group was 32.11 percent in March 2024 and 34.17 percent in March 2023, indicating a slight decrease in food prices, the report said.

The annual inflation rate for the non-food group was 20.22 percent in March 2024 and 21.56 percent in March 2023, indicating a slight decrease in non-food price changes.

In March 2024, the annual inflation rates for the main groups were 30.16 percent for general merchandise, 24.99 percent for transportation, 23.29 percent for outside food and lodging, 19.91 percent for rent and utilities, Compared to March 2023, the annual inflation rates of clothing, rent and maintenance and transportation increased, while the inflation rates of the remaining commodity groups decreased, with household appliances, services and maintenance expenses increasing by 19.41 percent, tobacco and beverages by 18.25 percent, clothing by 16.85 percent, recreation and culture by 14.02 percent, education by 11.11 percent, health by 10.64 percent, and communication by (-) 1.05 percent.