In February, consumer prices rose 0.7% over the previous month, which was in line with market expectations. The increase followed on a 0.4% rise in January and was halved the 1.5% increase tallied in February 2010. As a result, annual inflation fell from 4.9% in January to 4.2% in February, which is the lowest inflation rate on record. The monthly result reflected higher prices for food and non-alcoholic beverages (+2.5% month-on-month) as well as higher transportation costs (+1.8% mom). Meanwhile, the core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose a more subdued 0.3% over the previous month, driving annual core inflation up a notch to 4.0%. The Central Bank has a year-end inflation target of 5.5% for 2011 and of 5.0% for 2012 but forecasts inflation to end 2011 at 5.9%, before declining to 5.1% in 2012.
Inflation drops to record low in February
March 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.