Inflation: Food Down, Core Up

TURKEY - Report 03 Nov 2015 by Murat Ucer

Consumer prices rose by 1.55%, m/m, in October broadly in line with expectations. This has reduced the 12-month rate to 7.6% from 7.9% in September, thanks to the base effect from last year’s markedly higher food prices. The latter eased to 8.7%, y/y, from 10.7% in September. D-PPI also fell to 5.7%, y/y, from 6.9% reflecting softer cost-push factors from shrinking energy prices and the appreciation in lira in October (Table 1; Graphs 1-2).

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