Turkey - Inflation
Inflation tumbles to 10-month low in December
In December, consumer prices fell 0.44% over the previous month, which contrasted the 0.18% rise recorded in November. According to the statistical office, the reading was primarily the result of lower prices for clothing and footwear as well as for transportation.
Annual inflation dropped from 9.2% in November to 8.2% in December. The print came in under market expectations of 8.9% and represented a 10-month low.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, declined 0.21% in December over the previous month (November: +0.58% month-on-month). Annual core inflation inched down from 9.5% in November to 9.4% in December.
The Central Bank of Turkey (CBRT) sees year-end inflation at 6.1% in 2015. FocusEconomics panelists expect inflation to close 2015 at 7.2%, which is unchanged from last month’s forecast. For 2016, the panel sees inflation moderating to 6.5% 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||7.07||2.91 %||Jan 29|
|Exchange Rate||2.42||1.27 %||Jan 29|
|Stock Market||88,558||-1.97 %||Jan 29|
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January 26, 2015
The Real Sector Confidence Index published by the Central Bank rose to 103.2 in January from 101.2 in December, which had marked the lowest level in two years.
January 22, 2015
In January, the consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, was stable at December’s 67.7 points.
January 20, 2015
At its 20 January monetary policy meeting, the Central Bank (CBRT) decided to cut the one-week repo rate by 50 basis points to 7.75%.
January 13, 2015
The current account balance recorded a USD 5.6 billion deficit in November (October: USD 2.0 billion deficit), which marked a sizeable deterioration over the USD 4.2 billion shortfall recorded in the same month of the previous year.
January 8, 2015
In November, industrial production expanded a calendar-adjusted 0.7% over the same month last year, which was well below the 2.4% increase tallied in October.