Turkish inflation reaches 75% in May
Finance minister says ‘worst is over’ but one estimate says official figures are too low
Inflation in Turkey rose to 75.45% year on year in May, according to data published today (June 3) by the state-run Turkish Statistical Institute.
Education was the sector where inflation was the highest, at 104.8%, with housing following at 93.21%. Clothing and communication faced relatively low inflation at 50.85% and 54.31% respectively.
Turkish finance minister Mehmet Simsek repeated his earlier claim that inflation had reached its peak, saying “the worst is over” after today’s figures were
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