Inflation data for May has been announced: The salary increase table for retirees and civil servants has also become clear.

 

This month, Minister Şimşek announced that the country has completed the transition period in the battle against inflation and is now moving towards a disinflation phase. 

The impact of the last 12 months has contributed to the recent rise in inflation. Minister Şimşek stated that a sustained reduction in inflation rates is expected to start from June onwards.

According to Şimşek, it is anticipated that annual inflation will likely drop below 50 percent by the conclusion of the third quarter. 

Market analysts are forecasting a disinflation trend, with annual inflation expected to reach 33.2 percent in the next 12 months and 21.3 percent in the following 24 months. 

These predictions indicate a convergence towards the government's objectives in the near future.

Şimşek emphasized that supporting the disinflation process will be a primary focus, with a commitment to enhancing fiscal discipline to expedite progress.

 Acknowledging that achieving price stability demands both time and perseverance, the government is steadfast in its determination to attain the desired goals.

ENAG Releases May CPI Data Revealing Rent Increase Rates

Today, ENAG has published the consumer price index (CPI) data for May, unveiling some significant figures. 

The ENAGgroup Price Index (E-CPI), derived from daily price fluctuations, surged by 5.66 percent on a monthly basis.

Additionally, the 12-month average data, crucial for determining rent increases in regular circumstances, has been made available. 

Consequently, the maximum permissible rate of rent hike for May has been set at 62.51 percent.

The current 25 percent cap on residential rent increases will persist for another month. 

There are expectations that this cap may be lifted from July 1, 2024. Treasury and Finance Minister Mehmet Şimşek remarked, "I see no justification for the continuation of this measure."