Trump, Zelenskyy and EU leaders stress Ukraine talks before Alaska summit
U.S. President Donald Trump held a virtual call with European leaders, including Ukrainian President Volodymyr Zelenskyy, ahead of his upcoming Alaska...
In May 2025, Türkiye’s annual inflation rate declined to 35.41%, down from 37.86% in April and falling short of the market forecast of 36.1%. This represents the lowest rate recorded since November 2021, as price increases slowed across almost all categories.
According to data from TurkStat, the highest annual price increases were recorded in education (71.67%), housing (67.43%), and health (40.12%).
In contrast, the smallest increases were observed in clothing and footwear (14.12%), communications (19.25%), and transportation (24.59%).
TurkStat also highlighted the three main expenditure categories with the highest weighting in the inflation basket: food and non-alcoholic beverages, which saw an inflation rate of 32.87%; transportation at 24.59%; and housing at 67.43%.
The contributions of these categories to the overall annual inflation were as follows: 8.25% from food and non-alcoholic beverages, 4.07% from transportation, and 9.34% from housing, the agency noted.
Treasury and Finance Minister Mehmet Şimşek announced on social media platform X that annual inflation in Turkey has dropped by 40% over the past year, falling to 35.4%.
“Goods inflation stood at 28.7%, marking the lowest level in the past three and a half years. With inflation steadily declining and expectations improving, services inflation also dropped significantly—by 45 percentage points year-on-year—to 51.2%, the lowest rate since June 2022,” Şimşek stated.
He added, “Thanks to the determined implementation of our economic policies, ongoing disinflation will lead to greater predictability, improved financing conditions, a more attractive investment climate, and increased productivity. These factors will support sustainable, high-quality growth and enhanced welfare.”
Vice President Cevdet Yılmaz stated that the government remains committed to its economic program in a separate post on X: “Our primary objective is to bring down inflation and ensure stable, healthy economic growth. Despite volatility in the financial markets during March and April, the disinflation trend has continued uninterrupted for 12 months since June 2024, supported by a rebalancing of demand and improved inflation expectations.”
He also noted that the monthly pace of price increases has “slowed down significantly.”
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
A resumption of Iraq’s Kurdish oil exports is not expected in the near term, sources familiar with the matter said on Friday, despite an announcement by Iraq’s federal government a day earlier stating that shipments would resume immediately.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
The U.S. budget deficit surged nearly 20% in July to $291 billion despite a significant increase in customs duty collections from President Donald Trump’s tariffs, as government spending outpaced revenue growth.
The National Carrier of Türkiye, Turkish Airlines has announced an increase in the number of its weekly flights to China.
Norway's $2 trillion sovereign wealth fund said on Monday it is terminating contracts with asset managers handling its Israeli investments and has divested parts of its portfolio in the country over the situation in Gaza and the West Bank.
The Syrian Civil Aviation Authority has signed a $4 billion agreement with an international consortium last week (6 August), including companies from Türkiye, Qatar and the United States, aiming to expand Damascus International Airport.
The European Bank for Reconstruction and Development (EBRD) has announced a lending the equivalent of $7 million to Saloğlu, Azerbaijan’s leading furniture producer and retailer, in local currency to help boost its competitiveness.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment