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CBRT Expects Inflation Trend to Slow Beyond January

TURKEY
  • In its monthly report of price developments, the CBRT said it expects the inflation trend to slow after January, noting the significant increase in services inflation. Rent and transportation prices rose year-on-year, the report added, while natural gas-related developments contributed to the rise in energy prices.
  • The annual population growth rate plunged to 1.1 per thousand in 2023, down from 7.1 the previous year, according to data published by statistics office. That is the lowest growth rate since at least 2008. Istanbul’s population declined 252k to 15.7m.
  • Looking ahead, Industrial Production data is on the docket on Friday and is the highlight of the week data-wise. But the Central Bank of Turkey’s Inflation Report Presentation, to be presented by newly appointed Governor Fatih Karahan, is the key risk event of the week on Thursday (07:30GMT/10:30 local time).

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