Turkey yearly inflation rate drops in June
(MENAFN) Türkiye’s annual inflation rate eased to 35.05% in June, slipping slightly from May’s 35.41%, and coming in under market predictions, as reported by official data.
Analysts had anticipated the inflation rate for June would reach approximately 35.2%. The latest figures indicate the smallest year-on-year increase in consumer prices since December 2021, when inflation stood at 36.08%.
The data showed that the steepest annual price increases were in the education sector at 73.33%, followed by housing at 65.54%, and health care at 38.7%.
In contrast, the sectors with the mildest price rises over the past year included clothing and footwear, which saw a 14.47% increase, communications at 18.43%, and recreation and culture at 27.53%.
According to the Turkish Statistical Institute, three major categories that carry the most weight in household spending were food and non-alcoholic beverages (30.2% annual inflation), transportation (27.72%), and housing (65.54%).
"The contributions of these main groups to the annual change were 7.60% for food and non-alcoholic beverages, 4.51% for transportation, and 9.22% for housing," it added.
On a monthly basis, consumer prices rose by 1.37% in June, compared to a 1.53% increase in May. This monthly uptick also came in below the projected rate of 1.45%.
Türkiye’s Finance Minister Mehmet Simsek commented on the results, stating that inflation had slowed in June despite the upward pressure from rising oil prices caused by ongoing geopolitical tensions.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
