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Turkey's Official Inflation Shows Minimal Change in May at 33%
Monthly inflation slowed to 1.7% as housing and energy costs kept prices rising, the Turkish Statistical Institute said.
- Turkey's annual inflation rate climbed to 32.6% in May, up from 32.4% in April, according to the Turkish Statistical Institute , marking a slight acceleration in price pressures.
- Global energy price shocks linked to the US-Israeli war on Iran have fueled the upward trend; the central bank hiked its 2026 average Brent oil price forecast to $89 from the $60s per barrel.
- Monthly inflation cooled to 1.71% from 4.18% in April, yet the Istanbul Chamber reported a significantly higher annual rate of 36.8% in Turkey's largest city, indicating divergent regional pressures.
- Turkish stocks fell following the data release, with the Borsa Istanbul Banks Index declining 1.3%; analysts suggest policymakers may hold off raising borrowing costs at the Jun 11 meeting.
- The central bank previously raised its End-2026 inflation forecast to 26% in May, and officials will release the next quarterly inflation report on August 13 with updated war-impact assessments.
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Citizens React to Turkish Statistical Institute's (TÜİK) Inflation Data: 'They Are Blatantly lying.'
In Kadirli district of Osmaniye, citizens stated that the May inflation data announced by the Turkish Statistical Institute (TÜİK) was not credible. Those shopping at the local market said that prices had increased, not decreased.
·Istanbul, Türkiye
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Turkish Inflation Hastens for a Second Month on War Pressures
·New York, United States
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Coverage Details
Total News Sources15
Leaning Left2Leaning Right2Center2Last UpdatedBias Distribution34% Left, 33% Center, 33% Right
Bias Distribution
- 34% of the sources lean Left, 33% of the sources are Center, 33% of the sources lean Right
34% Left
L 34%
C 33%
R 33%
Factuality
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