Free Trial

Commodity Price Moderation Behind Slowdown in Producer Prices, CBRT Says

TURKEY
  • In their assessment of yesterday’s 84.39% CPI print, the CBRT said this morning that producer prices have slowed down significantly due to a moderation in commodity prices, though said the rise in food inflation continues citing unprocessed food, vegetable, and fruit prices.
  • The recent increase in real estate prices has drawn the attention of the Finance Ministry, who want to increase tax revenue from house sales. The proposals, however, have been criticised by sector representatives who say that this would further increase prices.
  • An oil tanker traffic jam has formed in Turkey following the EU’s introduction of a price cap on global Russian crude supplies, the Financial Times reported on Dec 5, with Turkish authorities demanding new proof of full insurance coverage for vessels passing through the Bosphorus and Dardanelles straits. According to the FT, around 19 oil tankers were waiting in line to transit through Turkish waters on Dec 6.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.