In January, consumer prices rose 0.56% over the previous month. The figure was virtually unchanged from the 0.58% increase recorded in December but overshot market expectations of a 0.40% increase. As a result, annual inflation stepped up from 10.4% in December to 10.6%, which marked the highest level observed since November 2008. The monthly increase mainly reflected higher prices for food and non-alcoholic beverages, transportation as well as for housing, water and electricity. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose a subdued 0.12% over the previous month. Annual core inflation inched up from 9.8% in December to 9.9% in January, the highest level seen since October 2008. The Central Bank of Turkey (CBRT) sees inflation ending the year at 6.5%. The official inflation target, however, remains at 5.0% for 2012 and 2013.
Inflation continues to rise
February 5, 2012
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Turkey Economic News
October 21, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, decreased slightly from 74.3 in September to 74.0 in October.
October 20, 2016
At its 20 October monetary policy meeting, the Central Bank of the Republic of Turkey (CBRT) decided to keep the marginal funding rate unchanged at 8.25%.
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.