Prices also climbed significantly on petrol, car insurance and some bridge tolls, according to Reuters.
Erdogan said on Friday he wants Turks to keep their savings in lira and assured the public the exchange rate volatility was mostly under control.
"The Turkish Lira, our money, that is what we will go forward with. Not with this foreign currency, that foreign currency,” Erdogan said in a speech in Istanbul, Reuters cited.
The Turkish president has staunchly held to his view that interest rates were the cause of inflation, despite widespread criticism to the contrary.
"Interest rates make the rich richer and the poor poorer,” Erdogan said, while speaking to a business group.
The lira lost 44 percent of its value against the dollar last year and there was an annual rise of inflation of 34.18 percent, the Istanbul Chamber of Commerce said.
Reporter's code: 50101