土耳其10年期国债 (Turkey10Y) 加自选

土耳其的年通货膨胀率从4月份的37.86%降至2025年5月的35.41%，低于市场预期的36.1%。这标志着消费者通胀率一年来有所缓解，为2021年11月以来的最低水平，因为几乎所有子指数的价格增长都继续放缓。值得注意的是，食品和非酒精饮料（4月份为32.87%对36.09%）以及住房和公用事业（67.43%对74.07%）的通货膨胀有所缓和。家具、家用设备和日常维护（29.69%对30.54%）、服装和鞋类（14.12%对16.92%）以及酒店、咖啡馆和餐馆（36.91%对41.87%）也有所缓解。相比之下，运输通胀是唯一上升的类别，从22.76%上升到24.59%。与此同时，核心通胀率从上个月的37.12%降至35.37%，为2021年12月以来的最低水平。按月计算，CPI上涨1.53%，为五个月来最小涨幅，此前4月份上涨了3%，低于2%的预期涨幅。

The annual inflation rate in Turkey slowed to 35.41% in May 2025 from 37.86% in April and below market expectations of 36.1%. This marks a year-long easing in consumer inflation and the lowest level since November 2021, as price growth continued to slow across almost all sub-indexes. Notably, inflation moderated for food and non-alcoholic beverages (32.87% vs 36.09% in April) and housing and utilities (67.43% vs 74.07%). It also eased for furnishing, household equipment, and routine maintenance (29.69% vs 30.54%), clothing and footwear (14.12% vs 16.92%), and hotels, cafes, and restaurants (36.91% vs 41.87%). In contrast, transport inflation was the only category to rise, increasing to 24.59% from 22.76%. Meanwhile, core inflation dropped to 35.37%, the lowest since December 2021, from 37.12% in the previous month. On a monthly basis, the CPI rose 1.53%, the smallest increase in five months, following a 3% rise in April and coming in below forecasts of a 2% gain.

土耳其的年度生产者通胀率从4月份的22.50%的四年半低点上升到2025年5月的23.13%。制造业（22.99%对4月份的22.65%）和电力、天然气和蒸汽（19.83%对14.45%）的通胀率有所上升。与此同时，采矿和采石（28.11%对29.59%）和供水（57.57%对58.14%）的价格增长放缓。按月计算，5月份生产者价格指数上涨2.48%，低于4月份2.76%的涨幅，4月份为三个月来的最高水平。

Turkey’s annual producer inflation rose to 23.13% in May 2025, from a four-and-a-half-year low of 22.50% in April. Inflation picked up for manufacturing (22.99% vs 22.65% in April) and electricity, gas, and steam (19.83% vs 14.45%). Meanwhile, price growth slowed for mining and quarrying (28.11% vs 29.59%) and water supply (57.57% vs 58.14%). On a monthly basis, producer prices increased by 2.48% in May, easing from a 2.76% rise in April, which was the highest level in three months.

5月份土耳其消费者价格指数（年环比）比预测（36.1%）低35.41%。5月份土耳其消费者价格指数（年环比）比预测（36.1%）低35.41%

Turkey Consumer Price Index (YoY) came in at 35.41% below forecasts (36.1%) in May.Turkey Consumer Price Index (YoY) came in at 35.41% below forecasts (36.1%) in May

贸易部的初步估计显示，土耳其的贸易逆差从去年同期的64.7亿美元略微扩大到2025年5月的65亿美元。尽管如此，这标志着自2024年10月以来最小的贸易逆差，出口同比增长2.7%，达到248亿美元的历史新高，而进口增长2.1%，达到313亿美元。考虑到今年前五个月，该国的贸易逆差为414亿美元，出口增长3.5%，进口增长5.7%。

Turkey's trade deficit widened slightly to USD 6.5 billion in May 2025 from USD 6.47 billion in the corresponding month of the previous year, preliminary estimates from the Trade Ministry showed. Still, this marked the smallest trade gap since October 2024, as exports increased by 2.7% year-on-year to an all-time high of USD 24.8 billion, while imports rose at a softer pace of 2.1% to USD 31.3 billion. Considering the first five months of the year, the country recorded a trade deficit of USD 41.4 billion, with exports increasing by 3.5% and imports growing by 5.7%.