According to TurkStat, the CPI, or the consumer inflation rate, increased by 2.98% month-on-month in May, whereas the annual consumer inflation rate was 73 percent when compared to May 2021.

The rent increase rate was 39.33 percent in May, i.e. a tenant who pays 3 thousand Turkish liras – TL (around 181.58 dollars) will have to pay 1180 Turkish liras (around 71.42 dollars) more, or 4 thousand 180 TL (around 253.01 dollars).

Transportation with 107.62 percent, food and non-alcoholic beverages with 91.63 percent and furnishings and household equipment with 82.08 percent were the main groups with high annual increases.

The lowest annual increase was 19.81 percent in communication. Education with 27.48 percent, clothing and footwear with 29.80 percent and health with 37.74 percent, were the other main groups where low annual increases took place.