Istanbul May Cpı Down 0.64% On Month, Ppı Down 1.18%
Consumer prices in Istanbul, Turkey's largest city, fell 0.64% on the month in May, compared with a 2.74% rise in April, the Istanbul Chamber of Commerce, or ITO, said Tuesday.
The producer price index fell 1.18% on the month in May, the ITO said.
On the year, inflation in Istanbul increased 10.60% in May, compared with an increase of 11.67% in April, the ITO said.
The producer price index in May rose 9.60% on the year, it added.
Although the ITO calculates its data in a different way from the official Turkish Statistics Institute, or TUIK, the chamber's data are considered a good indicator of the national trend, as Istanbul is the country's financial capital.
In a May 21 central bank survey, the average year-end national inflation rate forecast was 8.60%.
Monthly inflation expectations for May were pegged at 0.61%, the survey said.
TUIK is due to publish May national inflation data Thursday.
(SB-SB-ENG)
