Annual inflation in Turkish clothing, footwear sector rises to 29.27%

07 Jun '22

1 min read

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Consumer prices in Turkiye increased by 2.98 per cent in May this year and annual inflation rose by 3.53 points to 73.5 per cent, according to the Turkiye Cumhuriyet Merkex Bankasi (TCMB), the country’s central bank. There was a 4.63 per cent monthly price rise in the clothing and footwear group, which saw annual inflation rising by 3.52 points to 29.27 per cent.

The rise in annual consumer inflation spread across sub-categories in this period, with the most significant contribution coming from core goods and services.

In May, annual inflation increased across all subcategories of the core goods group. While the annual price increase in the services group was relatively flat in transport services, it went up in other sub-categories.

The rise in producer prices persisted in the month due to international commodity prices, exchange rate developments and ongoing supply chain disruptions.

In May, annual core goods inflation increased by 3.74 points to 65.32 per cent.

ALCHEMPro News Desk (DS)

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