Istanbul Chamber of Commerce: Istanbul's monthly inflation rate in May slowed to 2.83%

Data released by the Istanbul Chamber shows that the Consumer Price Index (CPI) in Istanbul for May was 2.83%, lower than April's 3.21%. This suggests that the national month-on-month inflation data to be announced by Turkey on Tuesday may slow down. The year-on-year inflation rate in Istanbul for May was 46.57%, lower than April's 47.21%. The category with the largest increase in May was food and non-alcoholic beverages, which rose by 3.24% month-on-month, followed by the housing category, which rose by 3.1% month-on-month. The Wholesale Price Index for May rose by 0.69%, lower than April's 1.46%. Note: Turkey's statistical agency is scheduled to announce May inflation data on Tuesday. The median forecast from Bloomberg surveys shows that the inflation rate is expected to slow down from April's 37.86% year-on-year to 36%.