September inflation: Ugly numbers

TURKEY - Report 03 Oct 2018 by Murat Ucer

September CPI-inflation came in at a much higher than expected 6.3%, m/m (consensus: 3.6%), raising the 12-month rate sharply higher to 24.5%, from 17.9% in August, while the increase in producer prices, at 10.9% in the month, was even steeper, with the 12-month rate rising to a whopping 46.2%, from 32.1% in August. The increase in CPI-inflation was broad-based, with food as well as energy- and currency-related categories making the highest contributions to monthly CPI inflation .

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