TurkStat to announce May inflation figures on Monday

Economists are forecasting a 3.04 percent increase in the Consumer Price Index (CPI) for the month.

The CPI has shown significant monthly increases throughout the year, with a 6.70 percent rise in January, followed by 4.53 percent in February, 3.16 percent in March, and 3.18 percent in April.

The annual inflation rate, which stood at 69.80 percent in April, is anticipated to climb to 74.89 percent for May. Economists also predict that the inflation rate by the end of 2024 will reach 43.95 percent.

These figures come amidst ongoing economic challenges and are closely watched by policymakers and market participants to gauge the country's economic health and plan future financial strategies. (ILKHA)