Annual inflation in Turkey reached a peak of 75.45% in the month of May, according to the official data announced by the Turkish Statistical Service (TUIK). Inflation in Turkey on a monthly basis is running at 5.66%. However, the reliability of the official Turkish Statistical Service's data is widely questioned by economic circles and the opposition. The independent institute ENAG (Inflation Research Group), made up of various university economists, calculated the increase in the Consumer Price Index on an annual basis at 120.66%. In April, annual inflation was recorded by TUIK at 67.07% and by ENAG at 121.98%. According to TUIK, the highest annual growth, at 104.8%, was recorded in the education sector, followed by accommodation-education at 93.21% and catering/hospitality at 92.94%, while the lowest was recorded in clothing and footwear with 50.85% (on a monthly basis, however, it comes first with 9.60% in the month of May compared to April). The domestic producer price index increased by 47.29% […]
Source: News Beast
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