TUIK announces inflation figures for May 2022

The Turkish Statistical Institute (TURKSTAT) has announced the inflation figures for May 2022. According to TURKSTAT, consumer inflation for May was calculated at 73.50 percent. In April, the rate was 69.97 percent. On the other hand, monthly inflation announced by TUIK was 2.98.

However, According to ENAG, inflation for the 12 months in May was 160.76 percent and the month-on-month inflation in May was calculated at 5.46 percent.

CONSUMER PRICE INDEX INCREASES BY 2.98 PERCENT IN MAY 2022

Based on data announced by TUIK, the consumer prices index (CPI) increased by 2.98 in percent in May 2022, compared to the previous month, 35.64 percent compared to December of the previous year, 73.50 percent compared to the same month of the previous year and 39.33 percent compared to the twelve-month averages.

FOOD INFLATION RISES TO 91.63 PERCENT

The main groups with a high increase compared to the same month last year were transportation with 107.62 percent, food and soft drinks with 91.63 percent, household goods with 82.08 percent, respectively.