In May, consumer prices declined 0.21% over the previous month. The figure contrasted the 1.52% increase recorded in April as well as market expectations of a 0.40% rise. As a result of the monthly drop, annual inflation plummeted from 11.1% in April to 8.3%, its lowest level in eight months. The monthly price drop mainly reflected a sharp fall in prices for food and non-alcoholic beverages as well as for transportation. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, added 1.08% over the previous month. Despite the rise, annual core inflation moderated from 9.8% in April to 9.3% in May. The Central Bank of Turkey (CBRT) sees inflation ending the year at 6.5% and moderating to 5.2% by the end of 2013. The official inflation target, however, remains at 5.0% for both years.
Inflation plunges in May
June 5, 2012
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Turkey Inflation Chart
Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Turkish Statistical Institute (TurkStat).
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
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.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.