Headline Inflation Surges in January

TURKEY - Report 03 Feb 2017 by Murat Ucer

​Consumer prices rose by a markedly higher-than-expected 2.5% in January, m/m, leading to a surge in the 12-month rate to 9.2%, from 8.5% in December. Sharp jumps in food and transportation categories are largely to blame for the increase – as well as for the deviation from our forecast. Producer prices also rose very sharply to 13.7% in January up from 9.9% in December, mainly driven by lira weakness but more so, by higher energy prices .

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