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CBRT Release April Inflation Report; CB Governor to Speak Shortly

TURKEY
  • Central bank Governor Sahap Kavcioglu is scheduled to speak on the second inflation report of the year at 0830BST/1030 local time with Bloomberg noting that the Bank may revise its year-end inflation estimate from 22.3% y/y.
  • The CBRT released its report of April’s inflation figures following yesterday’s +44.10% y/y CPI print. The upward trend of food prices above its historical levels, was noted. Producer prices are said to have risen in a limited way due to the retreat in energy prices while car and home appliance price pressures strengthened.
  • President Erdogan, various members of the cabinet and opposition candidates continue election rallies this afternoon.

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