Turkey’s official annual inflation rate for April was on May 3 released at the slightly smaller-than-expected figure of 69.8% y/y, edging up from 69.5% y/y in March to the highest figure seen since late 2022. Ahead of the publication of the data, the market was expecting 70.3%. Monthly inflation in April was 3.2% m/m, just as it was in March, according to the Turkish Statistical Institute (TUIK, or TurkStat). Istanbul-based inflation research group ENAG calculated the April inflation rates at 124.4% y/y and 5.0% m/m. Its calculations for March were 124.6% y/y and 5.7% m/m. Liam Peach at Capita…