In September, consumer prices added 1.03% over the previous month. The reading was above the 0.56% rise recorded in August but slightly undershot market expectations of a 1.10% increase. As a result of the monthly figure, annual inflation rose from 8.9% in August to 9.2%, its highest level in five months. The monthly price rise mainly reflected a sharp increase in prices for food and non-alcoholic beverages. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, added 0.34% over the previous month (August: -0.12% month-on-month). Despite the monthly increase, annual core inflation dropped from 8.5% in August to 8.0% in September. The Central Bank of Turkey (CBRT) sees inflation ending the year at 6.2% and moderating to 5.1% by the end of 2013. The official inflation target, however, remains at 5.0% for both years.
Inflation rises to highest level in five months
October 3, 2012
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Turkey Inflation Chart
Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Turkish Statistical Institute (TurkStat).
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.