The Epoch Times By
The annual inflation rate in Turkey jumped to its highest level in over two decades in May alongside a falling lira, according to official data released by the Turkish Statistical Institute (TUIK).
The measure of inflation, Consumer Price Index (CPI), grew by 73.5 percent in May from a year back, a June 3 press release from TUIK stated. This is the highest rate in Turkish history since October 1998 when inflation reached 76.6 percent.
On a monthly basis, May inflation grew by 2.98 percent. Compared to the general CPI, lower annual price changes were observed in eight main categories of goods and services while higher changes were seen in four main groups.
“The lowest annual increase was 19.81 percent in communication. Education with 27.48 percent, clothing and footwear with 29.80 percent, and health with 37.74 percent, were the other main groups where low annual increases realized,” the release stated.
