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Financial News: Turkey Consumer Price Inflation Slows; Producer Prices Ris

Turkey Consumer Price Inflation Slows; Producer Prices Rise

06/03/2021 - 05:07:00 (RTTNews)

(RTTNews) - Turkey's consumer price inflation eased and producer prices increased in May, figures from the Turkish Statistical Institute showed on Thursday. The consumer prices index rose 16.59 percent year-on-year in May, following a 17.14 percent increase in April. Economists had expected a growth of 17.25 percent.

Prices for transportation accelerated 28.39 percent yearly in May. Prices for furnishings and household equipment, and health gained 21.79 percent and 19.3 percent, respectively.

Prices for miscellaneous goods and services rose 17.92 percent. Prices for hotels, cafes and restaurants, and food and non-alcoholic beverages surged by 17.73 percent and 17.04 percent, respectively.

On a monthly basis, consumer prices rose 0.89 percent in May. Economists had forecast an increase of 1.46 percent.

The producer price index rose 38.33 percent annually in May, following an 35.17 percent increase in March.

Among the main industrial sectors, prices for intermediate goods gained 47.76 percent yearly in May and durable goods increased 29.18 percent.

Prices for capital goods grew 29.49 percent. Prices for non-durable consumer goods and energy rose by 25.22 percent and 43.33 percent, respectively.

On a month-on-month basis, producer prices increased 3.92 percent in May.

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