Turkey - Inflation
Inflation stable in March
In March, consumer prices rose 1.19% over the previous month, which was above February’s 0.71% increase. According to the statistical office, higher prices were recorded for food and non-alcoholic beverages, as well as for hotels, cafes and restaurants. In contrast, lower prices were observed for communications.
Inflation remained unchanged at February’s 7.6% in March. March’s result overshot market expectations of 7.3% inflation.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.58% in March (February: +0.01% month-on-month). Annual core inflation inched down from 8.1% in February to 7.4% in March.
The Central Bank of Turkey (CBRT) sees year-end inflation at 6.1% in 2015. FocusEconomics panelists expect inflation to close 2015 at 6.7%, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel sees inflation moderating to 6.4% 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||9.41||4.56 %||Apr 24|
|Exchange Rate||2.71||0.48 %||Apr 24|
|Stock Market||85,551||2.11 %||Apr 24|
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April 24, 2015
The Real Sector Confidence Index published by the Central Bank rose from 103.5 in March to 107.9 in April, which marked a nine-month high.
April 22, 2015
In April, the consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, rose from March’s 64.4 points to 65.4 points.
April 22, 2015
At its 22 April monetary policy meeting, the Central Bank (CBRT) decided to keep the one-week repo rate unchanged at 7.50%.
April 10, 2015
The current account balance recorded a USD 3.2 billion deficit in February (January: USD 2.0 billion deficit), which marked an improvement over the USD 3.3 billion shortfall recorded in the same month last year.
April 8, 2015
In February, industrial production expanded a calendar-adjusted 1.0% over the same month last year, which notably contrasted the 2.1% decrease tallied in January (previously reported: -2.2% year-on-year).