Turkey Inflation May 2020


Turkey: Inflation increases in May

June 3, 2020

Consumer prices rose 1.36% from the previous month in May, accelerating from the 0.85% increase seen in April. May's result was the sharpest increase in prices since October 2019, and came on the back of a notable increase in transportation costs.

Inflation came in at 11.4% in May, up from April’s 10.9%. Meanwhile, the trend pointed down, with annual average inflation coming in at 12.2% in May (April: 12.7%). Lastly, core inflation rose to 10.3% from April’s 9.9%.

FocusEconomics Consensus Forecast panelists expect consumer price inflation to end 2020 at 9.6% and 2021 at 9.7%.


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Turkey Inflation Chart

Turkey Inflation May 20 20

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Turkish Statistical Institute (TurkStat).

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