Turkey Inflation September 2016


Inflation eases in September

In September, consumer prices increased 0.18% over the previous month. The print contrasted the 0.29% drop in August, which had marked the first decrease since June 2015. September’s increase reflected higher prices for clothing and footwear, according to the statistical office.

Inflation slowed from August’s 8.1% to 7.3% in September, hitting the lowest reading in four months. The print came in below the 7.8% that market analysts had expected.

The core prices index, which excludes more volatile categories such as unprocessed food and energy, increased 0.14% in September over the previous month (August: +0.28% month-on-month). Core inflation inched down from August’s 9.4% to 8.7% in September.

Turkey’s Central Bank forecasts inflation of 7.5% at the end of 2016 and 6.0% in 2017. FocusEconomics panelists expect inflation to close 2016 at 7.7%, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation moderating to 7.1% by year-end.

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Turkey Inflation Chart

Turkey Inflation September 2016

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Turkish Statistical Institute (TurkStat).

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