Turkey's consumer prices index (CPI) rose by 0.3 percent month-on-month and 7.03 percent year-on-year in February, the Turkish Statistics Institute's (TurkStat) said on Monday.

According to a TurkStat statement, the biggest CPI hike was seen in alcohol and tobacco products, followed by houses, restaurants and hotels.

The Turkish government is trying to keep the inflation rate under 5.3 percent this year. But analysts say the target is hard to achieve in light of the ongoing easing monetary policy.

Turkey's annual CPI stood at 9.8 percent in 2012, which was much higher than previously expected.