• İstanbul 15 °C
  • Ankara 10 °C

UPDATE - Slight increase in Turkey's annual inflation

UPDATE - Slight increase in Turkey's annual inflation
TurkStat reports rise from 6.57 percent in April to 6.58 percent last month

UPDATES WITH QUOTES FROM TURKISH FINANCE MINISTER

ANKARA (AA) - Turkey’s annual rate of inflation rose slightly last month, the Turkish statistical institute, TurkStat, said Friday.

Official TurkStat figures showed inflation increased to 6.58 percent in May from 6.57 percent in April.

Monthly inflation increased by 0.58 percent in May.

Meanwhile, Turkish Finance Minister Naci Agbal said inflation in the country had in fact decreased in the first five months of this year.

Addressing a press conference in Ankara Friday, Agbal said: “Decline in inflation is good news. A rapid food price decrease reduced headline inflation from 9.5 percent to 6.5 percent.”

He said recent data showed promise for growth in Turkish economy.

“There are favorable conditions for a 4.5 percent growth in 2016. Positive figures are coming in succession,” he added.

Prices of food and non-alcoholic beverages fell by 1.64 percent, the greatest decline, while clothing and footwear sector saw the highest monthly increase with 8.04 percent rise.

The greatest annual increase was in the price of alcohol and tobacco products, which rose 12.79 percent.

However Agbal warned that there were still challenges in reducing the core inflation, a measure which excludes energy and food prices, despite improvement in headline numbers.

“Base effects also contribute to the inflation developments achieved in the first five months. We need to create conditions that will help core inflation to come down,” Agbal said.

source: News Feed
This news is a total 177 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
  • UK inflation rate rises beyond target12 December 2017 Tuesday 14:08
  • Erdogan: Annual growth rate likely to hit 7.5 pct12 December 2017 Tuesday 14:03
  • 8 in 10 Turks back EU membership, survey finds12 December 2017 Tuesday 11:23
  • Over 22M cars, trucks on Turkish roads12 December 2017 Tuesday 10:18
  • Turkey's Borsa Istanbul flat at open12 December 2017 Tuesday 09:58
  • Apple acquires music app Shazam11 December 2017 Monday 23:33
  • UPDATE - Erdogan: S-400 missile deal with Russia to be finalized11 December 2017 Monday 21:48
  • Turkey's Borsa Istanbul up at close11 December 2017 Monday 19:23
  • Reforms vital for Turkey's growth: Deputy PM11 December 2017 Monday 12:28
  • UPDATE - Turkish GDP grows double digits11 December 2017 Monday 10:33
  • All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
    Haber Scripti: CM Bilişim