Turkey: Inflation accelerates in May
June 3, 2015
In May, consumer prices rose 0.56% over the previous month, which was below April’s 1.63% increase. According to the statistical office, lower prices were recorded for food and non-alcoholic beverages. In contrast, higher prices were recorded for clothing and footwear, as well as for transportation.
Inflation rose from April’s 7.9% to 8.1’s in May, marking a five-month high. However, May’s result undershot market expectations of 8.2%% inflation.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 1.56% in May (April: +1.68% month-on-month). Core inflation rose from April’s 7.4% to 7.7% in May.