Turkish headline inflation eases somewhat in May

Turkish consumer price inflation accelerated in the month of May. According to the Turkish Statistical Institute, the headline inflation eased to 0.95 percent sequentially from April’s 1.69 percent. On a year-on-year basis, the consumer price inflation slowed to 18.71 percent from 19.50 percent seen in the prior month, as compared with expectations of 19.10 percent.

Sequentially, alcoholic beverages and tobacco saw the highest rise of 8.88 percent. The indices for clothing and footwear came in at 4.09 percent, while the index for transportation came in at 2.18 percent. The recreation and culture index and the one for hotels, cafes and restaurants came in at 1.86 percent and 1.61 percent, respectively. The highest month decrease was seen in furnishing and household equipment at 1.58 percent. Food and non-alcoholic beverages also saw a fall in the month, decreasing 1.18 percent.

On a year-on-year basis, highest annual rise was seen in food and non-alcoholic beverages at 28.44 percent. Miscellaneous goods and services recorded 26.75 percent, while furnishing and household equipment saw a rise of 24.54 percent.