Inflation in Turkey slowed down to 18.7% in May

Consumer prices in Turkey, according to official data, rose in May by 18.7% in annual terms. Compared with the April price increase of 19.5%, inflation in the country slowed down, which is observed for the second month in a row. Economists had predicted a lower slowdown in inflation - up to 19.3%. Relative to the previous month, consumer prices rose 0.95% after rising 1.7% in April. The Core CPI index, which does not include the cost of energy and foodstuffs, showed an annual increase of 15.8% in May, also slowing down growth relative to an increase of 16.3% in the previous month. Official data on the dynamics of producer prices in the country showed their growth in May by 28.7% in annual terms, whereas a month earlier it was at the level of 30.1%.

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