Turkey Annual Inflation to Slow to Lowest Level Since Late 2021

Turkey’s headline inflation in May probably dipped below 40% for the first time since late 2021, helped by the state statistics office’s decision to exclude household-gas consumption in its calculations last month.

TurkStat said it would record gas prices as zero in May, following President Recep Tayyip Erdogan’s giveaway of the power source to households for the month before May’s elections. A Bloomberg survey expects annual inflation to be 39.2%.