Inflation notably higher than expected

TURKEY - Report 03 Oct 2024 by Murat Ucer

Consumer price inflation was 3%, m/m, in September, visibly higher than the market (around 2.2%) and our slightly higher (2.3%) forecasts, the error in our forecast largely stemming from higher-than-expected price increases in food and beverages, and transportation services. The 12-month CPI inflation rate nevertheless fell to 49.4% from 52% in August, thanks to last September’s elevated base.

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