65807
Turkey Inflation at 8-Year High
Turkey Inflation at 8-Year High

Turkey Inflation at 8-Year High

Turkey Inflation at 8-Year High

Turkey’s annual consumer price inflation stood at 11.72% in May, official data showed on Monday, edging back from the 8-year high a month earlier and slightly easing pressure on the central bank to keep monetary policy tight, Reuters reported. Consumer prices rose 0.45% in May from the previous month, the Turkish Statistics Institute said, above the 0.35% increase predicted by a Reuters poll. “The fall in inflation last month supports our view that policymakers will end the tightening cycle at next week’s MPC meeting,” Capital Economics Emerging Europe economist Liam Carson said in a note. The Turkish central bank’s monetary policy committee holds its rates-setting meeting on June 15. Consumer inflation was driven by a 5.97% rise in clothing and footwear prices but offset by a 0.55% fall in prices for food and non-alcoholic drinks and a 0.73% fall in transport prices. At the end of April, the central bank raised its inflation forecast for 2017 to 8.5% from 8% and said it was ready to tighten policy further if needed.

 

Short URL : https://goo.gl/HnlnL8
  1. https://goo.gl/JoJUhB
  • https://goo.gl/4f70XZ
  • https://goo.gl/rYtcpF
  • https://goo.gl/GvXoCk
  • https://goo.gl/zrQnD3

You can also read ...

Wage growth in Australia has fallen  dramatically in recent years.
The Reserve Bank of Australia says relentless cost cutting by...
No Sign Philippines Economy Overheating
The chief of the Bangko Sentral ng Pilipinas said the...
Riyadh Going After  Non-Arrested Princes
Political analyst Jamal Khashoggi has said that Saudi Arabia...
Shadow financing is seen as one of the culprits behind China’s property-price surge, and regulators have banned  private-equity lending to developers for land purchases.
China’s drive to reduce its debt burden has shifted into a...
China’s Tencent Overtakes Facebook in Market Value
China’s social media and video game giant Tencent overtook...
Confidence in Afghanistan’s Future Rising Slowly
Afghanistan’s economy is expected to grow 2.6% this year, up...
Malaysia Growth Robust
Malaysia’s economy should continue to grow at a decent pace...
The global economy is enjoying a strong and broad-based recovery, and will grow even faster in 2018.
The robust health of the global economy has received...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus