In April, consumer prices rose 0.9% over the previous month, which was a notch below the 1.0% rise expected by market analysts. The monthly reading followed on a 0.4% increase in March and exceeded the 0.6% rise tallied in April 2010. As a result, annual inflation stepped up from the record-low of 4.0% in March to 4.3% in April. The lower-than-expected reading benefited from declining prices for food and non-alcoholic beverages (-0.5% month-on-month), which partially offset higher prices for clothing and footwear (+10.9% mom). Meanwhile, the core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose a more pronounced 1.3% over the previous month, driving annual core inflation to 4.5% (March: 4.0%). According to the 28 April Inflation Report, the Central Bank lifted its year-end inflation forecast from 5.9% to 6.9% for 2011 and from 5.1% to 5.2% for 2012. However, the official year-end inflation target remains at 5.5% for this year and at 5.0% for 2012.
Inflation rises in April, but remains subdued
May 3, 2011
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Turkey Economic News
October 25, 2016
The Real Sector Confidence Index published by the Central Bank decreased from September’s 106.5 to 101.7 in October, the lowest reading in one year.
October 21, 2016
The consumer confidence index, published by the Statistical Institute in cooperation with the Central Bank, decreased slightly from 74.3 in September to 74.0 in October.
October 20, 2016
At its 20 October monetary policy meeting, the Central Bank of the Republic of Turkey (CBRT) decided to keep the marginal funding rate unchanged at 8.25%.
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.