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
|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||8.6||-0.80 %||Oct 23|
|Exchange Rate||2.24||-0.46 %||Oct 23|
|Stock Market||79,495||1.81 %||Oct 23|
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October 23, 2014
At its 23 October monetary policy meeting, the Central Bank of the Republic of Turkey (CBRT) decided to keep the one-week repo rate at 8.25% as was expected by the majority of market participants.
October 15, 2014
The current account balance recorded a USD 2.8 billion deficit in August (July: USD 2.7 billion deficit), which marked a deterioration over the USD 2.4 billion shortfall recorded in the same month last year.
October 10, 2014
In August, industrial production expanded a calendar-adjusted 5.2% over the same month last year, which was above the 3.6% increase tallied in July.
October 6, 2014
The Turkish lira (TRY) has been weakening sharply against the US dollar since the beginning of September.
October 3, 2014
In September, consumer prices increased 0.14% over the previous month, which was slightly above the 0.09% rise recorded in August.