Monthly inflation rate in European countries April 2023

Inflation is characterized by a steady rise in the aggregate level of prices in an economy - put into simpler words, it is the rise in all prices in the economy, rather than just in specific prices for goods or services (such as when there is a shortage in a particular good). The consumer price index tracks price trends of private consumption expenditure, and shows an increase in the index's current level of inflation. In April of 2023, the inflation rate in Türkiye (previously known as Turkey) was 43.7% compared to the same month of the previous year, making it one of the countries in the world with the highest inflation rate.