Turkish Inflation Rate Rises to 6-Month High

Turkish consumer price inflation jumped to a six-month high of 12.15 percent year-on-year in May 2018 from 10.85 percent in the previous month. Also, May's rate was the second-highest since February 2004.

Year-on-year, prices went up at a faster pace for: food and non-alcoholic beverages (11.00 percent vs 8.81 percent in April); transportation (20.02 percent vs 16.45 percent); housing and utilities (11.24 percent vs 10.63 percent); furnishing, household equipment, routine maintenance of the house (16.87 percent vs 16.75 percent); hotels, cafes and restaurants (12.51 percent vs 11.88 percent); alcoholic beverages and tobacco (1.05 percent vs 0.90 percent); miscellaneous goods and services (15.38 percent vs 12.03 percent); education (11.01 percent vs 10.86 percent); and health (10.09 percent vs 9.97 percent).
Meanwhile, inflation slowed for both clothing and footwear (11.23 percent vs 12.03 percent) and recreation and culture (6.93 percent vs 8.18 percent), while prices of communication continued to fall (-0.22 percent vs -0.06 percent).

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to an all-time high of 12.64 percent in May from 12.24 percent in April.

On a monthly basis, consumer prices went up 1.62 percent in May, easing from a 1.87 percent jump in April, but beating market expectations of a 1.45 percent gain. The sharpest increases were recorded for clothing and footwear (5.21 percent), transportation (2.32 percent), miscellaneous goods and services (2.06 percent), hotels, cafes and restaurants (1.45 percent), and food and non-alcoholic beverages (1.45 percent).

Turkish Inflation Rate Rises to 6-Month High

Turkish Statistical Institute | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/4/2018 7:38:33 AM