Turkey | Inflation eased on core prices

Summary

Consumer prices rose by 0.16% in February lower than the consensus but higher than our estimate (0.4% vs. -0.3%). Thus, annual consumer inflation slowed down to 19.7% from 20.4% in January. We expect the inflation stay near 20% till June and end the year at 14.5% on favorable base effects, deeper negative output gap and stabilized currency.

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