75503
Turkey CPI  Up 2.08%
Turkey CPI  Up 2.08%

Turkey CPI Up 2.08%

Turkey CPI Up 2.08%

Turkey’s consumer price index rose by 2.08% in October, bringing the annual inflation to 11.9%, the Turkish Statistical Institute, TurkStat, announced Friday, Anadolu Agency reported. Since the beginning of this year, the annual inflation saw the lowest level in January--9.22%—and hit the highest level at 11.87 in April. However, the newest figures shattered the old record, bringing the inflation rate to the highest annual level in 9 years. The rise was driven by a sharp increase in transportation and food prices, which could potentially put more pressure on the central bank to tighten policy. Inflation remains one of the most pressing problems for Turkey’s economy, which has recovered from the downturn that followed last year’s failed coup. Weakness in the lira has helped stoke price increases in everything from food to fuel. The central bank this week raised its year-end inflation forecast to 9.8%, from 8.7% previously, and warned that volatility in the lira and a rising oil price may push inflation higher in the short term.

 

Short URL : https://goo.gl/PoJNAT
  1. https://goo.gl/YLNkEx
  • https://goo.gl/oNhmZA
  • https://goo.gl/Dst9CM
  • https://goo.gl/dnuMEL
  • https://goo.gl/yCA9t4

You can also read ...

ECB President Mario Draghi (L) and US fed chair Jerome Powell at the ECB Forum on Central Banking in Sintra, Portugal, June 20.
The world’s most-powerful central bankers warned that...
China Trade Surplus Shrinks
China’s trade surplus shrank markedly in the first five months...
Brazil CB Holds Rate Steady
For the second consecutive time, the Central Bank of Brazil...
Consumer prices rose just 0.1% in May, down from a 0.3% gain in April.
Canada’s economy showed unexpected weakness in the second...
Inflation rate forecast for the full year is averaged around 3.1%.
Saudi Arabia is so intent on changing its identity that today’...
Ukraine Shadow Economy Drops to 31% of GDP
Shadow economy in Ukraine dropped by 4% in 2017, to 31% of GDP...
Turkey Sees 22% Yearly Decline in FDI
Turkey attracted some $3.1 billion in net international direct...
IMF to Lower Eurozone Growth Projections
The International Monetary Fund will downgrade growth...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus