Turkey | August inflation surprised on the downside
Published on Tuesday, September 3, 2019 | Updated on Tuesday, September 3, 2019
Turkey | August inflation surprised on the downside
Summary
Consumer prices increased by 0.86% mom in August, far below the consensus and ours (1.3% Bloomberg vs. 1.4% BBVA Research). Annual inflation decreased from 16.65% in July to 15%, the lowest level in the last 15 months. We maintain our year-end forecast of 15% with downside risks.
Key points
- Key points:
- August inflation in monthly terms was better than the market expectations (0.86% actual vs 1.3% Bloomberg)
- Annual inflation could decrease to one digit-level in October with high probability.
- Current inflation momentum reinforced the position of the CBRT to continue the easing.
Topics
- Topic Tags
- Macroeconomic Analysis
Authors
Adem Ileri
BBVA Research - Senior Economist
Serkan Kocabas
Seda Guler Mert
BBVA Research - Principal Economist
Alvaro Ortiz
BBVA Research - Head of Analysis with Big Data
Documents and files
Warning: Invalid argument supplied for foreach() in /var/www/html/wp-content/themes/bbvaresearch/single.php on line 834