Producer prices fall in the Eurozone while inflation rises in Turkey

The European Statistical Office (Eurostat) has released the PPI data for April. According to the data, the PPI in the Eurozone fell by 2.2 percent compared to the previous month. Compared to the same period last year, an increase of 0.7 percent was recorded. Across the European Union, the PPI fell by 2.1 percent on a monthly basis in April, while it rose by 0.6 percent on an annual basis.

In the Eurozone, the PPI was expected to fall by 1.8 percent monthly and rise by 1.2 percent annually. However, the data remained below these expectations. Among EU countries, the PPI increased the most in the Greek Cypriot Administration by 0.3 percent, and in Malta and Slovenia by 0.2 percent in April. On the other hand, it decreased by 4.9 percent in Bulgaria, 4.3 percent in France, and 4 percent in Ireland.

In Turkey, according to data released by the Turkish Statistical Institute (TÜİK), annual inflation in May was 35.41 percent. Monthly inflation was calculated at 1.53 percent. According to the Inflation Research Group (ENAG), formed by independent academics, inflation increased by 3.66 percent monthly in May, reaching 71.23 percent annually.

These data show that while producer prices in the Eurozone are on a downward trend, inflation in Turkey continues to rise. Economic developments in both regions indicate that different dynamics are at play in global markets.