Turkish Statistical Institute (TÜİK) announced the May 2026 inflation data: The consumer price index (CPI) increased by 32.61 percent annually and 1.71 percent monthly.

Turkish Statistical Institute (TÜİK) announced the May 2026 inflation data: The consumer price index (CPI) increased by 32.61 percent annually and 1.71 percent monthly.

Inflation figures closely watched by markets and consumers have been released. According to data published by TUIK, the Consumer Price Index (CPI) increased by 1.71% in May 2026 compared with the previous month and by 32.61% compared with the same month of the previous year. The annual inflation rate continued its downward trend relative to the same period last year.

The data showed that CPI rose by 16.61% compared with December 2025 and by 32.24% based on the twelve-month average. In May 2025, annual inflation stood at 35.41%.

Housing Recorded the Strongest Annual Increase

Among the main expenditure groups with the highest weight in the CPI basket, housing recorded the most significant annual rise. Food and non-alcoholic beverages increased by 34.86% year-on-year, transportation by 34.29%, and housing, water, electricity, gas, and other fuels by 45.59%.

The contribution of these categories to annual inflation was 8.60 percentage points for food and non-alcoholic beverages, 5.63 percentage points for transportation, and 6.07 percentage points for housing.

Food Prices Declined on a Monthly Basis

One of the notable developments in May was the decline in food prices. Food and non-alcoholic beverages fell by 0.48% compared with the previous month. In contrast, transportation prices increased by 2.03%, while housing costs rose by 2.28%.

In terms of contributions to monthly inflation, food prices reduced the overall index by 0.12 percentage points, while transportation and housing added 0.35 and 0.27 percentage points, respectively.

Prices Increased in 137 of 174 Subcategories

According to TUIK, prices increased in 137 of the 174 expenditure subcategories included in the CPI basket. Prices declined in 28 subcategories, while 9 categories remained unchanged during May.

The data indicate that although inflation continues to moderate, price increases remain widespread across a broad range of consumer goods and services.

Core Inflation Reached 31.30%

Core CPI indicator B, which excludes unprocessed food, energy, alcoholic beverages, tobacco products, and gold, increased by 2.87% month-on-month and 31.30% year-on-year in May.

Meanwhile, Core CPI indicator C, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco products, and gold, recorded an annual increase of 30.44%. The elevated level of core inflation suggests that underlying price pressures remain persistent.

Markets Continue to Monitor Inflation Trends

While May’s data confirmed the ongoing decline in annual inflation, elevated core inflation indicators and strong increases in housing and transportation costs suggest that inflationary pressures have not fully subsided. Market participants are expected to continue closely monitoring monetary policy decisions and the government’s inflation-fighting measures in the coming months.

Kaynak: Turkish Statistical Institute (TUIK)