Consumer prices in Turkey went up 11.86% in March compared to the same month last year, the Turkish Statistical Institute (TurkStat) announced on Friday.

The annual inflation rate in March was down from 12.37% the previous month, according to TurkStat.

The highest price rise last month was seen in alcoholic beverages and tobacco, surging 40.19% on a yearly basis.

A group of 14 economists polled by Anadolu Agency on Tuesday forecasted that consumer prices in Turkey would rise 18.81% year-on-year.

TurkStat data showed that on a monthly basis, consumer prices rose 0.57% in March, in line with market expectations.

Read more: Turkey's annual inflation slips to 11.86% in March