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ISTANBUL — Turkey's annual inflation eased to 32.1 per cent in June from 32.6 per cent in May, though sharp increases in housing and education costs drove consumer prices higher, official data showed on Friday.
Consumer prices rose 0.99 per cent month-on-month in June, slowing from 1.7 per cent in May, according to the TUIK statistics agency.
On an annual basis, education prices rose 46.1 per cent, while housing costs, including energy bills, increased 45.1 per cent. Food prices were up 35.4 per cent and healthcare costs rose 33.6 per cent.
However, these official figures are disputed by independent economists from the Inflation Research Group (ENAG), who estimate that the year-on-year rise in consumer prices reached 51.4 per cent in June.
The annual inflation, which has remained above 30 per cent since December 2021, exceeded 75 per cent in May 2024 before beginning to slow down.
In mid-May, the Turkish central bank raised its inflation forecasts, projecting annual inflation of 26 per cent at the end of 2026, 15 per cent at the end of 2027 and 9 per cent at the end of 2028.
