FX.co ★ Turkey Sees Modest Rise in CPI Ex E,F,B,T&G in May 2024

Turkey's Consumer Price Index (CPI) excluding energy, food, beverages, tobacco, and gold (CPI Ex E,F,B,T&G) experienced a slight increase in May 2024. According to the most recent data released on June 3, 2024, by Turkish statistical authorities, the CPI in this category rose to 3.8% in May, up from 3.6% in April 2024.

This month-over-month rise of 0.2 percentage points indicates a steady inflationary trend in core consumer prices, excluding volatile components. In April, the index increased by 3.6%, maintaining a consistent upward trajectory in Turkey's economic environment.

As policymakers continue to monitor these core inflation metrics, the persistent rise highlights ongoing inflationary pressures within the Turkish economy. This trend may prompt further actions from the Central Bank of Turkey to address and manage economic stability going forward.