In October, consumer prices jumped 3.27% over the previous month, which overshot the 2.7% increase expected by market analysts, and marked the largest gain in nine years. The monthly reading came in well above both the 0.75% increase in September and the 1.83% increase tallied in October 2010. As a result, annual inflation jumped from 6.2% in September to 7.7% in October, the highest level since October 2010, and well above the Central Bank's target. The monthly increase reflected surging prices for alcoholic beverages and tobacco, due to a tax increase, as well as higher food and non-alcoholic beverage prices. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 2.55% over the previous month. Annual core inflation jumped from 7.4% in September to 9.1%, the highest level seen since October 2008. According to its October Inflation Report, the Central Bank of Turkey (CBT) sees year-end inflation at 8.3% for 2011 and 5.2% for 2012. The official year-end inflation target remains at 5.5% for this year and at 5.0% for 2012.
Inflation jumps to one-year high in October
November 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.