When bad news becomes good news

TURKEY - Report 03 Feb 2021 by Murat Ucer

Consumer prices rose by 1.7% in January, m/m, somewhat higher than the consensus forecast of 1.5%, with the 12-month CPI inflation increasing further to 15%, from 14.6% a month earlier. Twelve-month domestic-PPI inflation continued to rise as well, although at a more subdued rate than the past several months, to 26.2%, from 25.1% in December, suggesting that cost-push pressures remain elevated (Graph 1; Table 1).

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