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Financial News: Turkey Consumer Price Inflation Rises; Producer Price Infl

Turkey Consumer Price Inflation Rises; Producer Price Inflation Slows

06/03/2020 - 07:47:00 (RTTNews)

(RTTNews) - Turkey's consumer price inflation increased in May, while producer price inflation eased, figures from the Turkish Statistical Institute showed on Wednesday.

The consumer prices index rose 11.39 percent year-on-year in May, following a 10.94 percent increase in April. Economists had expected an 11.0 percent rise.

Prices for alcoholic beverages and tobacco grew 21.41 percent annually in May. Prices for miscellaneous goods and services, and housing increased by 20.86 percent and 14.45 percent, respectively.

On a monthly basis, consumer prices rose 1.3 percent in May. Economists had expected a 0.95 percent increase.

The producer price index rose 5.53 percent yearly in May, slower than the 6.71 percent increase in April.

Among the main industrial sectors, prices for durable goods grew 14.90 percent annually in May and prices for capital goods gained 10.27 percent.

Prices for non-durable consumer goods and intermediate goods prices rose by 9.01 percent and 6.09 percent. Meanwhile, energy prices fell 11.92 percent.

On a month-on-month basis, producer prices increased 1.54 percent in May.

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