Turkey’s annual inflation according to TurkStat: 16.59 percent

* Photo: Anadolu Agency (AA) - Archive

The Turkish Statistical Institute, the state agency commissioned with producing official statistics on the country, announced the Consumer Price Index (CPI) figures for May 2021 earlier today (June 3).

The CPI increased by 0.89 percent on the basis of the previous month, by 6.39 percent when compared to December of the previous year, by 16.59 percent when compared to last May and it increased by 14.13 percent in May 2020 on the basis of the twelve months moving averages.

Annual rate of changes in CPI (percent), May 2021

Highest annual increase in transportation

The lowest annual increase was 2.90 percent in alcoholic beverages and tobacco. Clothing and footwear with 5.75 percent, communication with 8.07 percent and recreation and culture with 10.05 percent, were the other main groups where the lowest annual increase was observed.

On the other hand, transportation with 28.39 percent, furnishings and household equipment with 21.79 percent and health with 19.30 percent were the main groups where high annual increases were realized.

Highest monthly increase, also in transportation

The highest monthly decrease was 1.32 percent in recreation and culture. Alcoholic beverages and tobacco with 0.01 percent was the other group that indicated monthly decrease amongst the main groups.

Food and non-alcoholic beverages with 0.29 percent and health with 0.30 percent were the main groups that indicated the lowest monthly increase.

On the other hand, transportation with 2.56 percent, clothing and footwear with 1.76 percent and miscellaneous goods and services with 1.62 percent were the main groups where high monthly increases were realized.

Prices of 259 items increased

In May 2021, within average prices of 415 items in the index, the average prices of 97 items decreased and the average prices of 59 items remained unchanged while the average prices of 259 items increased. (SD)