Turkey - Inflation

Inflation slows to six-month low in September

In September, consumer prices increased 0.14% over the previous month, which was slightly above the 0.09% rise recorded in August. According to the statistical office, the reading was primarily the result of higher readings for education as well as for hotels, cafes and restaurants. Annual inflation fell from 9.5% in August to 8.9% in September. The print, which represented the lowest rate since March, defied market expectations of 9.4%.

The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.25% in September over the previous month (August: +0.08% month-on-month). Annual core inflation ticked down from 9.9% in August to 9.4% in September.

The Central Bank of Turkey (CBRT) sees inflation ending 2014 at 7.6% before slowing to 5.0% at the end of 2015. The Bank’s official inflation target remains at 5.0%. FocusEconomics panelists expect inflation to close 2014 at 8.3%, which is up 0.3 percentage points from last month’s forecast. For 2015, the panel sees inflation moderating to 6.7% by year-end.

Turkey - Inflation Data

2009   2010   2011   2012   2013  
Inflation Rate (CPI, annual variation in %)6.3  8.6  6.5  8.9  7.5  

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Turkey Inflation Chart

Turkey Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistical Institute and FocusEconomics calculations.

Turkey Facts

Value Change Date
Bond Yield8.8-0.46 %Oct 20
Exchange Rate2.24-0.10 %Oct 20
Stock Market76,3311.06 %Oct 20

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