Turkey: Inflation stabilizes in May
June 3, 2016
In May, consumer prices rose 0.58% over the previous month, which followed April’s 0.78% increase. According to the statistical office, May’s result reflected much higher prices for clothing and footwear and, to a lesser extent, for transport and education.
Inflation in May stood at April’s 6.6%. The print came in below the 6.7% that market analysts’ had expected and represented the lowest reading since May 2013.
The core prices index, which excludes more volatile categories, such as unprocessed food and energy, increased 1.15% in May over the previous month (April: +1.53% month-on-month). Core inflation fell from April’s 9.5% to 9.1%.