Turkey Inflation


Turkey: Inflation stable in March

April 2, 2015

In March, consumer prices rose 1.19% over the previous month, which was above February’s 0.71% increase. According to the statistical office, higher prices were recorded for food and non-alcoholic beverages, as well as for hotels, cafes and restaurants. In contrast, lower prices were observed for communications.

Inflation remained unchanged at February’s 7.6% in March. March’s result overshot market expectations of 7.3% inflation.

The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.58% in March (February: +0.01% month-on-month). Annual core inflation inched down from 8.1% in February to 7.4% in March.

The Central Bank of Turkey (CBRT) sees year-end inflation at 6.1% in 2015. FocusEconomics panelists expect inflation to close 2015 at 6.7%, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel sees inflation moderating to 6.4% by year-end.

Author: Angela Bouzanis, Senior Economist

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