Macro Analysis /

Turkey: CPI inflation rises to 19.25% y/y in August, exceeds forecasts

    3 September 2021
    • Inflation exceeds policy rate of 19.0%, rate hike unlikely despite MPC's earlier promise of positive real interest rate
    • Food inflation rises to 29.0% y/y, explains most of headline inflation increase
    • Core goods inflation slows down due mainly to auto price cuts
    • Services inflation edges up, energy inflation eases