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Turkish inflation continues to rise for the third month in a row Inflation in Turkey continued to rise for the third month in a row, but the rise was less than experts’ expectations. According to data announced by the Turkish Statistical Authority on Tuesday, annual inflation last September reached 61.53 percent in consumer prices and […] Inflation in Turkey continued to rise for the third month in a row, but the rise was less than experts’ expectations. According to data announced by the Turkish Statistical Authority on Tuesday, annual inflation last September reached 61.53 percent in consumer prices and 47.44 percent in producer prices. On a monthly basis, the CPI rose by 4.75 percent and the Producer Price Index rose by 3.4 percent. The Turkish Central Bank is expected to announce the latest inflation report for the current year on November 2. Education, hotels, restaurants and hotels saw the highest annual increase, while the main group saw the lowest increase in housing was recorded at 20.16 percent. Following the announcement of inflation data for September, the Turkish lira showed a new decline to its lowest level, losing 0.3 percent of its value against the dollar, and falling to 27.5 liras per euro.
Publicados : 2 anos atrás por David Sadler no Environment
Inflation in Turkey continued to rise for the third month in a row, but the rise was less than experts’ expectations.
According to data announced by the Turkish Statistical Authority on Tuesday, annual inflation last September reached 61.53 percent in consumer prices and 47.44 percent in producer prices.
The institute stated that “looking at averages for the last 12 months, consumer prices rose by 55.3 percent, and producer prices by 65.55 percent.”
On a monthly basis, the CPI rose by 4.75 percent and the Producer Price Index rose by 3.4 percent. The consumer price index rose by 49.86 percent in September compared to last December, and the producer price index rose by 36.06 percent.
Inflation in Turkey last August recorded an increase of 9.09 percent on a monthly basis, and 58.94 percent on an annual basis.
Experts’ expectations in Turkey indicated an increase of about 5 percent in September, and a rise in annual inflation to touch the expected inflation rate for the end of the year in the government’s medium-term economic program announced last month, which is 65 percent, which is also consistent with the expected rate updated by the bank. Turkish Central.
The Turkish Central Bank is expected to announce the latest inflation report for the current year on November 2. The Turkish Statistical Institute also announces GDP data for the third quarter of the year at the end of November.
Markets are also awaiting the last three meetings of the Central Bank’s Monetary Policy Committee, which will be held on October 26, November 23, and December 21, respectively.
At its last meeting in September, the committee approved an increase in the key interest rate by 500 basis points to 30 percent, bringing the increases from June to September to 21.5 percent… The Turkish Central Bank pledged to continue tightening its monetary policy gradually in parallel with Expectations of rising inflation.
The Central Bank stated, in its statement issued after the committee’s meeting in September, that: “It was decided by the committee to continue the process of monetary tightening to achieve the goal of reducing the inflation rate as quickly as possible, to stabilize inflation expectations, and to control the deterioration in pricing behavior.”
Following the announcement of inflation data for September, the Turkish lira showed a new decline to its lowest level, losing 0.3 percent of its value against the dollar, and falling to 27.5 liras to the dollar. The lira fell against the euro by 0.28 percent, to 28.85 liras per euro.
On the eve of the Turkish Statistical Institute announcing inflation data in September, the inflation rate in consumer prices in Istanbul, the largest city in Turkey, recorded 73.18 percent on an annual basis last September. Wholesale prices rose by 67.79 percent, according to Istanbul Chamber of Commerce data issued Monday.
Contrary to the figures announced by the Turkish Statistical Institute, the Inflation Research Group, a platform composed of independent experts, said that the consumer price index increased by 6.24 percent on a monthly basis in September. The group stated, in a statement on Tuesday, that the annual inflation in consumer prices in September amounted to 130.13 percent, and added that the inflation rate for the period from January to last September reached 95.33 percent.
She noted that the main group that recorded the highest monthly increase in September was education, at 30.27 percent. On the occasion of the start of the new academic year. While the smallest increase in housing was recorded at 20.16 percent.
The main group, which saw the highest annual increase, was restaurants and hotels, at 92.48 percent.
Tópicos: Oil & Gas, ESG