Inflation: Modest Improvements in Trend

TURKEY - Report 03 Dec 2014 by Murat Ucer
November CPI inflation came in at 0.2%, broadly as expected, which meant a slight increase in the 12-month rate to 9.2% from 9% in October, on the back of last November’s low base. Food prices are relatively well-behaved this time, rising modestly over a month ago, while, as expected, transportation helped disinflation, shaving off some 0.3 pps from overall inflation in the month. Notably, though, in certain ‘goods’ categories, like clothing and housewares, contribution to inflation was higher in November this year vs. the last. On the cost side, D-PPI, probably reflecting a stronger lira, ...

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