​A big surge in inflation, more to come

TURKEY - Report 03 Jan 2022 by Murat Ucer

Consumer prices rose by a much higher than expected 13.6%, m/m, in December, with 12-month CPI inflation hence finishing the year at 36.1%, up from 21.3% in November. It is worth highlighting that this is the highest consumer price inflation number since September 2002, and the largest miss (of the target) of the past two decades (Graphs 1-2).

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