Annual inflation was 39.59 percent in consumer prices and 40.76 percent in domestic producer prices. According to ENAG, inflation was calculated as 105.45 percent with "zero natural gas" and 109.01 percent when natural gas prices are included.
Turkish Statistical Institute (TUIK) announced the inflation data for May by calculating the contribution of natural gas price to inflation as “zero”.
Accordingly, the Consumer Price Index (CPI) increased by 0.04 percent on a monthly basis and the Domestic Producer Price Index (D-PPI) increased by 0.65 percent in May.
Annual inflation was 39.59 percent in consumer prices and 40.76 percent in domestic producer prices.
According to the data of the Turkish Statistical Institute, when the 12-month averages are taken into account, consumer prices increased by 63.72 percent and domestic producer prices increased by 95.8 percent.
CPI increased by 15.26 percent and D-PPI increased by 7.81 percent in May compared to December of last year.
The CPI was 36.08 percent in December 2021, and the D-PPI was 38.33 percent in May 2021.
THE HIGHEST INCREASE ON A MONTHLY BASIS IS IN THE CLOTHING SECTOR
In terms of main expenditure groups, the groups with the highest monthly increase in May were clothing and footwear with 9.85 percent, restaurants and hotels with 7.10 percent, and education group with 5.14 percent.
The only main group that showed a monthly decrease in May was housing with 13.79 percent.
The highest annual increase in CPI was seen in the restaurants and hotels group with 68.98 percent.
The main groups with the lowest increase compared to May 2022 were clothing and footwear with 19.49 percent, housing with 20.73 percent, and transportation with 23.68 percent, respectively.
In the same month, there was a decrease in the index of 25 main titles out of 143 main titles covered in the index, while the index of 8 main titles did not change.
There was an increase in the index of 110 basic titles.
ENAG ANNOUNCES TWO DIFFERENT INFLATION NUMBERS FOR MAY
The Inflation Research Group (ENAG) calculated two different inflation data for May, following the natural gas adjustment of TURKSTAT.
Accordingly, ENAG announced that the natural gas price did not change in May, and in the normal inflation scenario, the ENAG Group Consumer Price Index (E-CPI) increased by 7.35% in May.
In this scenario, the last 12-month increase in E-CPI was realized as 109.01%. The January-May inflation rate was 38.96%.
In the scenario where the natural gas price is 0 (zero) lira in May, as reported by TURKSTAT, ENAG announced that the ENAG Group Consumer Price Index (E-CPI) increased by 5.68% in May.
In this scenario, the last 12-month increase in E-CPI was 105.45%. The January-May inflation rate was 36.59%. AA