May Inflation Rises 2.71% with Education Costs Leading Increases
Inflation in May rose by 2.71%, pushing the annual rate to 39.88%, according to the TRNC Statistics Institute. Education expenses saw the highest increase at 6.42%, while lemon prices surged 138.54%, marking the largest price jump.
The institute reported a 16.15% inflation rate compared to December 2024 and 39.88% compared to May last year.
Other major expenditure groups with notable increases included clothing and footwear (4.87%), entertainment and culture (4.78%), alcoholic beverages and tobacco (3.23%), and transportation (2.52%).
Of 472 consumer items tracked, 398 showed price increases while 74 decreased. The steepest price rises were seen in lemons, cauliflower (66.80%), and tomatoes (65.15%). The biggest price drops were in stuffed peppers (58.35%), charleston peppers (54.27%), and zucchini (50.33%).
In May 2023, monthly inflation was 3.50%, with an annual rate of 95.37%.
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