A turbocharger, comprising: a turbine housing and a turbine wheel mounted in the turbine housing and connected to a rotatable shaft for rotation therewith, the turbine housing receiving exhaust gas and supplying the exhaust gas to the turbine wheel; a centrifugal compressor assembly comprising a compressor housing and a compressor wheel mounted in the compressor housing and connected to the rotatable shaft for rotation therewith, the compressor wheel having blades and defining an inducer portion, the compressor housing having an air inlet wall defining an air inlet for leading air generally axially into the compressor wheel, the compressor housing further defining a volute for receiving compressed air discharged generally radially outwardly from the compressor wheel, the air inlet wall defining an annular space surrounding the air inlet and open to the air inlet at a radially inner end of the annular space; and a compressor inlet-adjustment mechanism disposed in the annular space of the air inlet wall and movable between an open position and a closed position, the inlet-adjustment mechanism comprising a plurality of blades disposed between an upstream wall surface and a downstream wall surface within the annular space, the blades collectively circumscribing an orifice, an upstream surface of each blade opposing the upstream wall surface and a downstream surface of each blade opposing the downstream wall surface, each blade being pivotable about a pivot point fixed in the compressor housing, the blades pivoting radially inwardly from the annular space into the air inlet when the blades are in the closed position so as to cause the orifice to have a reduced diameter relative to a nominal diameter of the inlet; the turbocharger being characterised in that at least one of the upstream wall surface and the upstream surface of each of the blades includes spacing features that space a majority of the upstream surface of each blade away from the upstream wall surface, enabling pressure communication between the upstream and downstream surfaces of the blades. a turbine housing and a turbine wheel mounted in the turbine housing and connected to a rotatable shaft for rotation therewith, the turbine housing receiving exhaust gas and supplying the exhaust gas to the turbine wheel; a centrifugal compressor assembly comprising a compressor housing and a compressor wheel mounted in the compressor housing and connected to the rotatable shaft for rotation therewith, the compressor wheel having blades and defining an inducer portion, the compressor housing having an air inlet wall defining an air inlet for leading air generally axially into the compressor wheel, the compressor housing further defining a volute for receiving compressed air discharged generally radially outwardly from the compressor wheel, the air inlet wall defining an annular space surrounding the air inlet and open to the air inlet at a radially inner end of the annular space; and a compressor inlet-adjustment mechanism disposed in the annular space of the air inlet wall and movable between an open position and a closed position, the inlet-adjustment mechanism comprising a plurality of blades disposed between an upstream wall surface and a downstream wall surface within the annular space, the blades collectively circumscribing an orifice, an upstream surface of each blade opposing the upstream wall surface and a downstream surface of each blade opposing the downstream wall surface, each blade being pivotable about a pivot point fixed in the compressor housing, the blades pivoting radially inwardly from the annular space into the air inlet when the blades are in the closed position so as to cause the orifice to have a reduced diameter relative to a nominal diameter of the inlet; the turbocharger being characterised in that at least one of the upstream wall surface and the upstream surface of each of the blades includes spacing features that space a majority of the upstream surface of each blade away from the upstream wall surface, enabling pressure communication between the upstream and downstream surfaces of the blades.