Key facts
- Turkey's annual inflation rate accelerated in May.
- Monthly price growth slowed down.
- Policymakers face an interest-rate decision next week.
- Global energy shock triggered by the US-Israeli war on Iran impacted domestic prices.
Turkey's annual inflation rate rose for the second consecutive month in May. This acceleration was influenced by a global energy shock, reportedly triggered by the US-Israeli war on Iran, which continued to impact domestic prices. Despite the overall annual increase, there was a notable slowdown in the monthly pace of price growth. This development may offer some relief to policymakers as they prepare for an upcoming interest-rate decision scheduled for the following week.