Turkey's consumer prices advanced 0.95 percent from a month earlier in May 2019, slowing from a 1.69 percent climb in April and missing market consensus of 1.3 percent. The sharpest price increases were recorded for alcoholic beverages and tobacco (6.77 percent), clothing and footwear (5.36 percent), furnishing and household equipment (2.65 percent), miscellaneous goods and services (1.94 percent), and food and non-alcoholic beverages (1.40 percent). Inflation Rate Mom in Turkey averaged 0.76 percent from 2003 until 2019, reaching an all time high of 6.30 percent in September of 2018 and a record low of -1.44 percent in November of 2018.
Inflation Rate Mom in Turkey is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate Mom in Turkey to stand at 0.40 in 12 months time. In the long-term, the Turkey Inflation Rate MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.