Consumer price index (CPI) surged 75.45% year-on-year in May, according to the Turkish Statistical Institute.

This marks a significant increase from 22.72% in December 2023. The monthly inflation rate also climbed to 3.37%.

Education costs experienced the highest annual increase at 104.80%, while clothing and footwear saw the lowest at 50.85%. Clothing and footwear also witnessed the highest monthly rise at 9.6%, while communication costs grew the least at 1.01%.

The core inflation rate, excluding volatile categories like food and energy, reached 72.99% annually. This indicates underlying inflationary pressures remain substantial.

These figures highlight the ongoing challenge of inflation in Türkiye. The government is grappling to control rising prices, which are eroding household purchasing power. (ILKHA)