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Turkey’s annual inflation at 12.15 percent in May

Monitoring Desk

ANKARA: Consumer prices in Turkey rose 12.15 percent in May, year-on-year, according to the Turkish Statistical Institute (TurkStat) on Monday. The May figure was up from 10.85 percent in April, the data revealed.

The highest annual increase was seen in transportation, up 20.02 percent.

“Furnishing and household equipment with 16.87 percent, miscellaneous goods and services with 15.38 percent, hotels, cafes and restaurants with 12.51 percent and housing with 11.24 percent were the other main groups where high annual increases realized,” TurkStat said.

Last week, Anadolu Agency Finance Desk’s survey of 21 economists predicted an annual inflation of 12.11 percent for May and an average 1.59 percent monthly increase in consumer prices.

The data revealed that clothing and footwear posted the highest monthly rise with 5.21 percent. “In May 2018, the indices rose for transportation, 2.32 percent, for miscellaneous goods and services, 2.06 percent, for hotels, cafes and restaurants and for food and non-alcoholic beverages, 1.45 percent,” TurkStat said.

It added there was no decrease in the main expenditure groups in May 2018, saying: “The least monthly increase was in alcoholic beverages and tobacco with 0.15 percent amongst main expenditure groups.” The next release on consumer price index is due on July 3.

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