June Inflation: Food Prices Disappoint

TURKEY - Report 03 Jul 2014 by Murat Ucer
June (CPI) inflation came in at a higher than expected 0.3%, compared with the consensus forecast of a flat reading and our more optimistic forecast of a slight drop in the monthly rate. Inflation still eased, i.e. it has indeed peaked, but less so than expected, to 9.2% from 9.7% in May. PPI inflation also dropped to 9.8% in June, from 11.3% in May (Graphs 1-2; Table 1). Our forecast slippage as such stems entirely from food prices. The latter rose by 0.4%, whereas food prices typically drop rather significantly in June (Graph 3); we had factored in a percentage point drop even after takin...

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.