Agency. Turkey’s annual inflation fell to 35.41 percent in May. According to the latest data released by the Turkish Statistical Institute, the annual inflation rate for May has come down to 35.41 percent from 37.86 percent in April.
This was the lowest turkey has seen since November 2021. This was lower than the market estimate. Which had estimated that inflation would come down to about 36.1 percent. Monthly, consumer price inflation stood at 1.53 per cent. which was 3/0 percent in April.
The annual growth in May saw a 71.67 per cent increase in education prices, while housing prices rose by 67.43 per cent. Prices of food and non-alcoholic beverages increased by 32.87 per cent.
Turkey has struggled with rising inflation for years. In April, the annual inflation rate dropped slightly to 37.86 per cent. Which was 38.1 percent in March. In May, Turkey’s central bank kept its year-end inflation forecast unchanged at 24 percent.
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