Consumer prices rose 3.2% last month, marking the second consecutive month of inflation above 3%, driven by soaring oil prices amid the ongoing conflict in the Middle East. The surge in oil prices, which increased nearly 25%, along with rising prices for agricultural and marine products, contributed significantly to the overall inflation.
According to the National Data Agency's report on consumer price trends for June 2026, the consumer price index reached 119.99, reflecting a 3.2% increase compared to the same month last year. This is the highest inflation rate recorded in two and a half years, since December 2023.
Inflation rates remained around 2.0% in January and February of this year but have escalated since the outbreak of the Middle East conflict. The rates were 2.2% in March, 2.6% in April, and 3.1% in May, culminating in a 3.2% increase in June.
The primary driver of inflation was oil. Last month, oil prices surged 24.7% compared to the same month last year, marking the largest increase since July 2022, when prices rose 35.2%.
Specifically, gasoline prices rose by 23.1%, while diesel prices increased by 33.7%. The rise in oil prices alone is estimated to have contributed 0.93 percentage points to the overall consumer price increase.
Prices for industrial goods also rose, increasing by 4.4% year-on-year, up from 4.2% the previous month. Processed food prices saw a 0.9% increase.
Service prices rose by 2.6%, with rent increasing by 1.0%, public services by 1.6%, and personal services by 3.4%. Among personal services, categories excluding dining out rose by 3.9%, contributing 0.78 percentage points to overall inflation.
Notable increases in specific services included insurance premiums rising by 13.4%, overseas group travel costs by 24.3%, apartment management fees by 3.2%, and auto repair costs by 5.5%. Among public services, international airfares jumped by 28.2%.
Prices for agricultural and marine products also added to inflationary pressures, rising 3.2% year-on-year, up from 2.2% the previous month. While agricultural product prices increased by only 1.1%, livestock prices rose by 6.2%, and seafood prices by 3.7%.
Specific increases included rice at 11.7%, domestic beef at 7.5%, imported beef at 6.8%, pork at 4.5%, and eggs at 10.3%. Prices for green onions rose by 37.1%, and dried yellow corvina by 12.0%.
Conversely, prices for garlic (-11.0%), pears (-11.2%), cucumbers (-11.0%), radishes (-9.0%), carrots (-13.4%), onions (-6.1%), and cabbage (-19.7%) decreased.
The fresh food index rose by 0.4% year-on-year. Fresh fish prices increased by 4.1%, and fresh vegetable prices rose by 0.9%, while fresh fruit prices fell by 2.1%.
The underlying inflation trend remains in the mid-2% range. The index excluding food and energy rose by 2.5%, while the index excluding agricultural products and oil increased by 2.4%.
The living cost index, which reflects perceived inflation, rose by 3.4% compared to the same month last year. Food prices increased by 2.3%, while non-food items rose by 4.1%. The living cost index, including rent, also increased by 3.0%.
* This article has been translated by AI.
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