Turkey - Inflation
Inflation rises from January’s 20-month low
In February, consumer prices rose 0.71% over the previous month, which was below January’s 1.10% increase. According to the statistical office, higher prices were recorded for food and non-alcoholic beverages, as well as for transportation. In contrast, lower prices were observed for clothing and footwear.
Annual inflation rose from 7.2% in January to 7.6% in February. January’s print had represented a 20-month low. February’s figure overshot market expectations of 7.4% inflation.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased a weak 0.01% in February (January: +0.63% month-on-month). Annual core inflation inched down from 8.9% in January to 8.1% in February.
The Central Bank of Turkey (CBRT) sees year-end inflation at 6.1% in 2015. FocusEconomics panelists expect inflation to close 2015 at 6.5%, which is down 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||8.39||2.69 %||Mar 26|
|Exchange Rate||2.60||0.34 %||Mar 26|
|Stock Market||81,482||-1.41 %||Mar 26|
See all the data and analysis available in each of our Regional and Country reports.
March 26, 2015
The Real Sector Confidence Index published by the Central Bank rose from 103.4 in February to 103.5 in March, which marked a five-month high.
March 23, 2015
In March, the consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, fell from February’s 68.1 points to 64.4 points.
March 17, 2015
At its 17 March monetary policy meeting, the Central Bank (CBRT) decided to keep the one-week repo rate unchanged at 7.50%.
March 11, 2015
The current account balance recorded a USD 2.0 billion deficit in January (December: USD 6.8 billion deficit), which marked an improvement over the USD 5.0 billion shortfall recorded in the same month last year.
March 9, 2015
In January, industrial production contracted a calendar-adjusted 2.2% over the same month last year, which notably contrasted the 2.5% increase tallied in December and marked the first decrease since December 2012.