Turkish consumer price inflation stood at 1.71% month-on-month in May, while the annual figure climbed to 32.61%, data from the Turkish Statistical Institute showed on Friday. In a Reuters poll, monthly inflation was forecast to be 1.63%, with the annual rate seen at 32.50%, as the Iran war drives expectations of a slower-than-anticipated disinflation trend. In April, consumer price inflation surged to 4.18% month-on-month, while the annual figure climbed to 32.37%, both figures above forecasts. The data also showed the domestic producer index stood at 2.75% month-on-month in May for an annual increase of 28.93%. Türkiye's trade deficit narrowed 15.7% year-on-year to $5.6 billion in May, mainly due to fewer working days during the month, Trade Minister Omer Bolat said on Thursday. Bolat said exports fell by 9.3% to $22.5 billion in May, while imports fell by 10.7% to $28.1 billion in the same period. Türkiye's unemployment rate rose 0.1 percentage points month-on-month to 8.2% in April, data showed on Thursday. The Turkish Statistical Institute data showed the labor force participation rate decreased 0.6 points to 52.4% in April, while a seasonally adjusted measure of labor under-utilization dropped 1.2 percentage points to 30.1% in April.
