Türkiye's inflation rate slows better than market forecast

Türkiye's annual consumer inflation rate slowed to 71.60% in June, beating economists' forecast, according to data released on Wednesday.

The June figure fell from an 18-month high of 75.45% in May as the country's economic management expected, the Turkish Statistical Institute (TurkStat) data showed.

On Monday, an Anadolu survey predicted June inflation at 72.68% on a yearly basis and 2.28% on a monthly basis.

Previously, Treasury and Finance Minister Mehmet Simsek said inflation peaked in May before entering a disinflationary path.

The highest annual rises were seen in education at 107.11% and housing at 94.72% while clothing and footwear posted the lowest increases in June with 47.84%.

On an annual basis, Türkiye's consumer price index rose 1.64% in May, following May's 3.37%.