Free Trial

Consumer Prices Rise 39.59% y/y; USD/TRY Trades to Fresh Record High

TURKEY
  • Turkey’s consumer prices rose 39.59% y/y (Est: +39.20%) in May versus +43.68% in April, according data released by the Turkish Statistical Institute this morning. The m/m figure was unchanged, in-line with estimates, versus a +2.39% increase in April. Core prices rose 46.62% y/y (Est: +43.70%; Prior: +45.48%). Producer prices rose 40.76% y/y versus +52.11% prior.
  • USD/TRY has traded to as high as 21.1615 this morning – a fresh record high. The pair currently sits 1.05% higher and lies above the unofficial Grand Bazaar rate for the first time since 2022.
  • There are no other data releases left on the docket today.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.