Inflation in Turkey is at its lowest level in 17 months

0
353

The Turkish Statistical Authority announced that the consumer price index (inflation) in Turkey slowed down last May, to 39.59 percent on an annual basis.

This came in the data of the Authority on Monday, in which it indicated that the annual rate of 39.59 percent is the lowest number during the past 17 months, down from 43.68 percent during last April.

It stated that by looking at the average of the 12 months of the past year, consumer prices increased by 63.72 percent, as well as domestic producer prices by 95.8 percent.

-Advertisement-



Contrary to economists’ expectations, which indicated an increase in inflation in May by 0.07 percent, reaching 0.04 percent.

The consumer price index measures the changes that occur in the general level of prices based on tracking a basket that includes all goods and services consumed within a specific country.