In December, consumer prices fell 0.3% over the previous month. The drop followed the flat reading recorded in November, and was below market expectations that consumer prices would rise 0.3% over the previous month. The monthly decline was the result of a sharp decrease in prices for food and non-alcoholic beverages (-2.7% month-on-month), which was partially offset by a +2.0% increase in prices for miscellaneous goods and services. The monthly fall in prices led to annual headline inflation declining from 7.3% in November to 6.4% in December. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.2% over the previous month, driving annual core inflation to 5.3%, up from November's 5.0%. The Central Bank forecasts inflation to end 2011 at 5.4% before declining to 5.1% in 2012.
Inflation drops in December amid lower food prices
January 3, 2011
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Turkey Economic News
October 25, 2016
The Real Sector Confidence Index published by the Central Bank decreased from September’s 106.5 to 101.7 in October, the lowest reading in one year.
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.