Lira Pass-Through Drives Inflation

TURKEY - Report 05 Oct 2015 by Murat Ucer

Consumer prices rose by a higher than expected 0.9% in September (expectation: 0.7%), which meant an increase in the 12-month rate to just under 8% (7.95%, to be precise) from 7.1% in August. Food prices explain about 0.2 percentage point of the increase in the 12-month rate with the rest attributable to direct and indirect effects of a weaker exchange rate and to broader inflation stickiness, in our view .

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