Turkish services inflation hits 34.62% annually in April

Turkey's inflation in the services sector continued its upward trend in April, with the Producer Price Index for services (H-ÜFE) recording an annual increase of 34.62%. The Turkish Statistical Institute (TÜİK) released the figures, indicating a significant rise in costs for service providers.

On a monthly basis, the H-ÜFE saw a 3.23% increase. This rise was most pronounced in the transportation and storage services sector, which experienced a 4.45% jump in prices. This sector also recorded the highest annual increase among all service groups, surging by 38.46% compared to the previous year.

Other service sectors also reported substantial annual price hikes. Accommodation and food services saw a 31.79% increase, while information and communication services rose by 29.91%. Real estate services experienced a 31.78% annual increase, professional, scientific, and technical services grew by 34.04%, and administrative and support services increased by 32.44%.

Looking at monthly changes, accommodation and food services increased by 3.55%, and real estate services by 3.40%. Administrative and support services saw a monthly rise of 3.27%. Information and communication services increased by 1.24% monthly, and professional, scientific, and technical services by 0.68%. The data reflects a broad-based inflationary pressure across Turkey's service economy.