Turkey's annual inflation accelerated to 32.6% in May from 32.4% in April,
Official data on Friday showed; the median forecast of 17 economists was 32.5%.
The increase marks a second consecutive month of acceleration as a global energy
shock from US and Israeli actions against Iran continues to feed domestic
prices. Rising energy import costs are reversing Turkey's disinflation
trend—Turkey is a major oil and gas importer—and policymakers say they have
struggled to respond. Turkish central bank governor Fatih Karahan said the bank
is monitoring second-round effects and that the inflation outlook depends on the
duration of the conflict.
