In August, consumer prices added 0.56% over the previous month. The reading contrasted the 0.23% fall recorded in July and exceeded market expectations of a 0.25% rise. Despite the monthly increase, annual inflation fell from 9.1% in July to 8.9%. The monthly price rise mainly reflected an increase in prices for transportation as well as for food and non-alcoholic beverages, which more than offset a sharp decline in clothing and footwear prices. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, fell 0.12% over the previous month (July: -0.13% month-on-month). As a result, annual core inflation dropped from 9.1% in July to 8.5% in August. The Central Bank of Turkey (CBRT) sees inflation ending the year at 6.2% and moderating to 5.1% by the end of 2013. The official inflation target, however, remains at 5.0% for both years.
Inflation moderates in August
September 5, 2012
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Turkey Economic News
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
In September, consumer prices increased 0.18% over the previous month.
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.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.