Turkey Inflation Rate Unchanged in May


Consumer prices in Turkey increased by 6.58 percent year-on-year in May of 2016, virtually unchanged from April's 6.57 percent growth and missing market consensus of 6.90 percent gain. While prices of food increased further, cost of housing, transportation and furnishings rose at a slower pace.

Year-on-year, cost of food and non-alcoholic beverages went up by 2.47 percent compared to a 1.38 percent increase in April. Cost of housing and utilities (+6.51 percent from +6.59 percent in April), transportation (+5.72 percent from +6.41 percent) and furnishings and household equipment (+9.18 percent from +10.38 percent) increased at a slower pace. Additional upward pressure came from: hotels, cafes and restaurants (+10.59 percent); clothing and footwear (+7.32 percent); alcoholic beverages and tobacco (+12.79 percent); and miscellaneous goods and services (+11.87 percent).

On a monthly basis, consumer prices rose 0.58 percent compared to a 0.78 percent growth in April. Prices of clothing and footwear (+8.04 percent), transportation (+1.10 percent), education (+1.04 percent), miscellaneous goods and services (+0.95 percent) and communications (+0.92 percent) increased by the most. In contrast, cost of food and non-alcoholic beverages (-1.64 percent) and furnishings and household equipment (-0.28 percent) fell.

 Turkey Inflation Rate Unchanged in May


Turkstat | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/3/2016 8:20:46 AM