Turkey - Inflation
Inflation tumbles to 20-month low in January
In January, consumer prices rose 1.10% over the previous month, which contrasted December’s 0.44% fall. According to the statistical office, the reading was primarily the result of higher prices for food and non-alcoholic beverages, as well as for alcoholic beverages and tobacco.
Annual inflation dropped from 8.2% in December to 7.2% in January. The print represented a 20-month low, however it came in over market expectations of 6.8%.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.63% in January (December: -0.21% month-on-month). Annual core inflation inched down from 9.4% in December to 8.9% in January.
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||8.21||0.37 %||Feb 27|
|Exchange Rate||2.51||0.19 %||Feb 27|
|Stock Market||84,148||-2.06 %||Feb 27|
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February 24, 2015
At its 24 February monetary policy meeting, the Central Bank (CBRT) decided to cut the one-week repo rate by 25 basis points to 7.50%.
February 23, 2015
In February, the consumer confidence index, which is published by the Statistical Institute in cooperation with the Central Bank, rose from January’s 67.7 points to 68.1 points.
February 23, 2015
The Real Sector Confidence Index published by the Central Bank rose from 103.2 in January to 103.4 in February, which marked a four-month high.
February 11, 2015
The current account balance recorded a USD 6.8 billion deficit in December (November: USD 5.7 billion deficit), which marked an improvement over the USD 8.4 billion shortfall recorded in the same month of the previous year.
February 5, 2015
The Turkish lira (TRY) has weakened sharply against the U.S. dollar in recent weeks.