December inflation: 15 is the new 10?

TURKEY - Report 04 Jan 2021 by Murat Ucer

Consumer prices rose by 1.25%, m/m, in December, higher than the consensus forecast of 0.9%, but broadly in line with ours. As a result, the 12-month CPI inflation increased further, ending the year at 14.6%, up from 14% in November, and 11.8% at end-2019, therefore missing the target by a wide margin yet another year (Graph 1).

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