Ooops, Missed It Again…

TURKEY - Forecast 03 Jan 2014 by Murat Ucer
Consumer prices rose by a slightly higher than expected 0.5% in December, with the 12-month rate hence ending the year at 7.4%, above the CBRT’s latest estimate of 6.8% as well as the medium-term target (or the Holy Grail) of 5%. Compared to the same month of previous year, the behavior of food and clothing prices were somewhat more benign, but housing, transportation and hospitality categories added more to inflation this year than last December. In the meantime, the 12-month PPI inflation jumped quite significantly to 7%, from 5.7% in the previous month, while the 12-month core inflation ...

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