The Turkish Statistical Institute (TÜİK - TurkStat) announced an increase in the consumer inflation rate for May 2019 compared with the previous month as 0.95%, resulting in a fall in the annual-to-date rate to 18.71% from the previous month’s rate of 19.50%. This was below market expectations which foresaw no change from the previous month.
The highest monthly increase was recorded in alcoholic beverages and tobacco with 8.88%, followed by clothing and footwear with 4.09%, transportation with 2.18%, entertainment and culture with 1.86%, and restaurants and hotels with 1.61%.
The two monthly decreases were recorded in household goods with 1.58% and in food and non-alcoholic beverages with 1.18%.
The highest annual increase was recorded in food and non-alcoholic beverages with 28.44%, followed by miscellaneous goods and services with 26.75%, household goods with 24.54%, entertainment and culture with 20.06%, restaurants and hotels with 19.77%, health with 19.37%, and alcoholic beverages and tobacco with 19.22%.