In July, consumer prices dropped 0.41% over the previous month, which was larger than the subdued 0.07% contraction expected by market analysts and added credibility to the Central Bank's monetary policy mix. The monthly reading followed the pronounced 1.43% fall in June and broadly matched the 0.48% drop tallied in July 2010. In spite of the monthly drop, annual inflation inched up from 6.2% in June to 6.3% in July. The monthly drop reflected lower prices for food and non-alcoholic beverages as well as clothing and footwear. Meanwhile, the core inflation index, which excludes more volatile categories such as unprocessed food and energy, remained flat over the previous month. However, annual core inflation stepped up from 5.3% in June to 5.7%. According to the 28 July Inflation Report, the Central Bank of Turkey (CBT) left its year-end inflation forecast unchanged at 6.9% for 2011 and 5.2% for 2012. The official year-end inflation target remains at 5.5% for this year and at 5.0% for 2012. In addition, the dovish tone of the report reflected the CBT's contentment with the results of its monetary policy mix.
Consumer prices drop in July
August 3, 2011
Looking for forecasts related to Inflation in Turkey? Download a sample report now.
Turkey Economic News
October 13, 2016
The current account balance recorded a USD 1.8 billion deficit in August (July: USD 2.7 billion deficit).
October 10, 2016
In August, industrial production expanded a calendar-adjusted 2.2% compared to the same month last year.
October 3, 2016
In September, consumer prices increased 0.18% over the previous month.
October 3, 2016
The Manufacturing Purchasing Managers’ Index (PMI), produced by the Istanbul Chamber of Industry (ICI) and IHS Markit, increased slightly to 48.3 in September from August’s 47.0, which had marked a multi-year low.
September 26, 2016
The Real Sector Confidence Index published by the Central Bank increased from August’s 103.6 to 106.5 in September.