Good Inflation Print, More Cuts in Store

TURKEY - Report 03 Oct 2016 by Murat Ucer

Consumer price inflation surprised on the downside in September, coming in at 0.2%, m/m, softer than the consensus expectation of a 0.7% increase. The 12-month rate hence fell visibly to 7.3% from just over 8% in August. Producer prices stayed very benign, suggesting little cost-push pressure, dropping further to under 2%, y/y, from 3% a month earlier (Table 1; Graph 1).

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