Turkey's annual inflation rate stands at 16.59% in May, down from 17.14% in April, the country’s statistical authority announced on June 3, Trend reports citing Hurriyet Daily News.
The annual figure in consumer prices decreased by 0.55 percentage points last month, according to the Turkish Statistical Institute (TÜİK).
On a monthly basis, the consumer price index went up by 0.89% in May. Economists polled by Anadolu Agency last week projected the inflation rate would be 17.17%.