Turkey Inflation March 2016


Turkey: Inflation slows to seven-month low in March

April 4, 2016

In March, consumer prices fell 0.04% over the previous month, which followed February’s drop of 0.02%. According to the statistical office, March’s decline came on the back of much lower prices for food and non-alcoholic beverages, recreation and culture as well as for communication.

Inflation fell from February’s 8.8% to 7.5% in March. The print undershot the 8.1% that market analysts’ had expected and represented a seven-month low. The core prices index, which excludes more volatile categories, such as unprocessed food and energy, increased 0.44% in March over the previous month (February: +0.25% month-on-month). Core inflation inched down from January’s 18-month high of 9.8%% to 9.7%.

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 8.3%, which is unchanged from last month’s forecast. For 2017, the panel sees inflation moderating to 7.2% by year-end.

Author: Ricard Torné, Lead Economist

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Turkey Inflation Chart

Turkey Inflation March 2016 0

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

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