In January, consumer prices rose 0.4% over the previous month. The increase, which contrasted a 0.3% drop in December, was below market expectations of a 0.5% rise as well as the 1.9% increase tallied in January 2010. As a result, annual inflation fell to 4.9% in January (December: +6.4%), which is the lowest inflation rate on record. The monthly result reflected higher prices for food and non-alcoholic beverages (+1.6% month-on-month) as well as higher transport costs (+1.4% mom), which were partially offset by a 7.8% drop in prices for clothing and footwear, due to winter sales. Meanwhile, the core inflation index, which excludes more volatile categories such as unprocessed food and energy, remained flat over the previous month, driving annual core inflation down from December's 5.3% to 3.9%. The Central Bank forecasts inflation to end 2011 at 5.4%, before declining to 5.1% in 2012. According to the Monetary Policy Report, the year-end inflation target for 2011 is 5.5%, while the goal for 2012 is set at 5.0%.
Inflation falls to a record low in January
February 3, 2011
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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.