Inflation at Producer Prices at 15 Years’ Peak
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The Turkish Statistical Institute (TurkStat) announced the inflation figures for May 2018 today (June 4).
The data shared by Turkstat has shown that when the 12-month averages as of May 2018 are considered, the Consumer Price Index has increased by 11.10 percent and the Producer Price Index has increased by 15.80 percent. On monthly basis, the Consumer Price Index has seen an increase of 1.62 percent and the Producer Price Index an increase of 3.79 percent.
The Consumer Price Index in May 2018 has increased by 6.39 percent in comparison with December 2017 and increased by 12.15 percent in comparison with May 2017. The Producer Price Index in May 2018 has increased by 12.12 percent when compared to December 2017 and increased by 20.16 percent when compared to the figures in May 2017.
The Producer Price Index has increased by 3.79 percent on monthly basis and by 20.16 percent on yearly basis, which marks the highest level it has reached since August 2003.
Inflation has exceeded expectations of surveys
According to the inflation expectation survey of Bloomberg HT Research Unit, the monthly inflation in May 2018 was expected to be at 1.45 percent and yearly inflation at 11.95 percent.
The economists participating in the state-run Anadolu Agency's Finance Inflation Expectation Survey expected that the Producer Price Index would increase by 1.59 percent in May 2018.
The average of the 2018 year-end inflation expectations of the economists is 11.53 percent. (EKN/SD)
*Sources: Bloomberg HT, investing
