FX.co ★ Turkey’s Core Inflation Eases in May, Offering Tentative Relief on Price Pressures

Turkey’s core consumer price index (CPI Ex E, F, B, T&G) slowed in May 2026, signaling a moderation in underlying inflationary pressures. Month-over-month, the core gauge rose 2.9%, down from a 3.5% increase recorded in April 2026.

The core CPI measure—excluding energy, food, beverages, tobacco and gold—is closely watched by markets as a clearer signal of persistent price dynamics, stripping out the most volatile components. The latest reading, updated on 5 June 2026, suggests that while inflation remains elevated on a monthly basis, the pace of underlying price growth has begun to cool compared with the previous month.

On a month-over-month comparison, May’s 2.9% rise indicates that core prices are still advancing at a strong clip, but the deceleration from April’s 3.5% may be interpreted by investors and policymakers as an early sign that some of the strongest pricing pressures are starting to ease. Future data releases will be critical to determine whether this slowdown in core inflation becomes a sustained trend.