Turkey inflation edges up to 32.6 per cent in May: data

ISTANBUL, June 5 (AFP): Turkey's annual inflation rate showed a slight increase in May to 32.6 percent from 32.4 in April, official figures showed Friday.

On a monthly basis, consumer prices climbed 1.7 percent, a slowdown from the 4.2 percent increase in April, but still driven mainly by increases in housing and water costs as well as electricity, gas and other fuels, the TUIK statistics agency said.

In April, the year-on-year rate had jumped more than expected, reaching 32.4 percent after 30.9 percent a month earlier.

Turkish annual inflation figures have remained above 30 percent since December 2021, making life increasingly more expensive for millions of people.

The figure peaked at over 75 percent in May 2024 before starting to ease.