HomeEconomicIn May, Turkey recorded a record inflation of 73.50%, the country is...

In May, Turkey recorded a record inflation of 73.50%, the country is becoming more expensive

Inflation in Turkey reached 73.50% in May, according to data released today by the Turkish Statistical Institute and quoted by Turkish media.

The annual inflation rate in April was 69.97 percent, while in March it was 61.14 percent, according to national statistics.

The May figure was lower than expected by economists, who forecast a level of 77.72 percent, according to Sabah.

The lowest price increase (19.81 percent) was recorded in the communications sector. The sectors of education (27.48 percent), clothing and footwear (29.80 percent), and health care (37.74 percent) also saw low price increases, TRT Haber reported.

On the other hand, the main groups with the highest growth compared to the same month last year were transportation with 107.62%, food and non-alcoholic beverages with 91.63%, and household goods with 82.08%, respectively.

The main groups of expenditures, which showed the lowest growth in May 2022, were education with 0.41%, the relationship with 1.49%, and 1.61% with health. On the other hand, the main groups with the highest growth in May 2022 were alcoholic beverages and tobacco with 6.53%, entertainment, and culture with 6.15%, and restaurants and hotels with 5.47%, respectively.

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