Turkey Inflation June 2016

Turkey

Turkey: Inflation rebounds in June

July 4, 2016

In June, consumer prices rose 0.47% over the previous month, which followed May’s 0.58% increase. According to the statistical office, June’s result reflected higher prices for food and non-alcoholic beverages, education, health as well as for transportation.

Inflation in June rose to 7.6% from May’s multi-year low of 6.6%. The print came in above the 6.9% that market analysts had expected and represented the highest reading in four months.

The core prices index, which excludes more volatile categories, such as unprocessed food and energy, increased 0.20% in June over the previous month (May: +1.15% month-on-month). Core inflation fell from May’s 9.1% to 8.9%.

Turkey’s Central Bank forecasts inflation to be 7.5% at the end of 2016 and 6.0% in 2017. FocusEconomics panelists expect inflation to close 2016 at 7.8%, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel sees inflation moderating to 7.2% by year-end.


Author: Ricard Torné, Head of Economic Research

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Turkey Inflation Chart


Turkey Inflation June 2016

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Turkish Statistical Institute (TurkStat).


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