Turkey: Inflation increases in May
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%.