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Financial News: Turkey Inflation At 9-Month Low

Turkey Inflation At 9-Month Low

06/03/2019 - 07:10:00 (RTTNews)

(RTTNews) - Turkey consumer price inflation slowed for the second straight month to the lowest in nine months, figures from the Turkish Statistical Institute showed on Monday.

The consumer price index climbed 18.71 percent year-on-year in May, following a 19.5 percent rise in April. Economists had expected a 19.2 percent rise.

The latest inflation was the lowest since August last year, when it was 17.90 percent.

The prices of food and non-alcoholic beverages alone grew 28.44 percent annually in May and those of miscellaneous goods and services rose 26.75 percent.

On a monthly basis, consumer prices increased 0.95 percent in May, after 1.69 percent in April.

Separate data from the Turkish Statistical Institute showed that the producer price index rose 28.71 percent annually in May, which was the weakest since July last year.

On a month-on-month basis, producer prices slowed 2.67 percent in May, after a 2.98 percent in the prior month.

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