Turkey - Inflation
Inflation hits three-month high in November
In November, consumer prices increased a 0.18% over the previous month, which was well below the 1.90% rise recorded in October. A hike in electricity and natural gas tariffs was behind October’s massive increase. According to the statistical office, the November reading, which undershot the 0.30% increase that market analysts had expected, was primarily the result of higher prices for clothing and footwear, as well as for furnishings and household equipment.
Annual inflation rose from 9.0% in October to 9.2% in November, which represented a three-month high.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.58% in November over the previous month (October: +1.37% month-on-month). Annual core inflation inched up from October’s 9.4% to 9.5% in November.
The Central Bank of Turkey (CBRT) expects inflation to end 2014 at 8.9%. Next year the CBRT sees inflation declining to 6.1%. FocusEconomics panelists expect inflation to close 2014 at 9.1%, which is up 0.3 percentage points from last month’s forecast. For 2015, the panel sees inflation moderating to 7.1% by year-end, which is unchanged from last month’s forecast.
Turkey - Inflation Data
|Inflation Rate (CPI, annual variation in %)||6.3||8.6||6.5||8.9||7.5|
5 years of economic forecasts for more than 30 economic indicators.
Turkey Inflation Chart
Source: Statistical Institute and FocusEconomics calculations.
|Bond Yield||7.8||-1.52 %||Dec 04|
|Exchange Rate||2.23||-0.35 %||Dec 04|
|Stock Market||86,234||1.55 %||Dec 04|
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December 11, 2014
The current account balance recorded a USD 2.0 billion deficit in October (September: USD 2.3 billion deficit), which marked an improvement over the USD 3.3 billion shortfall recorded in the same month last year.
December 10, 2014
In Q3, GDP rose 1.7% over the same quarter last year, marking a deceleration compared to the revised 2.2% expansion recorded in Q2 (previously reported: +2.1% year-on-year).
December 8, 2014
In October, industrial production expanded a calendar-adjusted 2.4% over the same month last year, which was a notch below the 2.5% increase tallied in September (previously reported: +2.2% year-on-year).
December 3, 2014
In November, consumer prices increased a 0.18% over the previous month, which was well below the 1.90% rise recorded in October.
December 1, 2014
The HSBC Manufacturing Purchasing Managers’ Index (PMI) rose from 51.5 in October to 52.2 in November, which represented the highest level since February of this year.