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Turkey inflation rises to 32.6% in May
The annual inflation rate in Turkey rose to 32.6% in May, as the ongoing impact of rising housing and energy costs persists, despite a decline from its peak of over 75% in May 2024. Prices also increased by 1.7% on a monthly basis. The Central Bank expects inflation to decrease to 26% by the end of the year, then to 15% the following year, and down to 9% by 2028, in its efforts to stabilize prices and control inflationary pressures. Turkey still faces challenges regarding citizens' purchasing power, despite improvements from previous high levels.
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