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Fuel Price Hikes Likely Higher than CBRT Forecast, Dunya Say

TURKEY
  • Dunya say fuel price hikes will be slightly higher than the CBRT's calculations, since oil prices are currently higher than the central bank's forecast. They therefore consider the probability of an inflation rate below 60% at the end of the year to be low. In order to reach this level, they say average monthly inflation must be around 4.3%. As a reminder in the CBRT’s most recent inflation report, inflation was forecast to be between 58-62% by year-end.
  • The risk of a weakened payment chain is increasing as both companies and consumers face difficulties in securing financing, Ekonomi report.
  • Istanbul’s main shopping street is teeming with Middle Eastern visitors, Hurriyet report. They say stores are operating double shifts to meet the high demand, with some staying open until 3am.
  • Vice President Yilmaz will speak at meeting at 1200BST/1400 local time on preparations for the Medium-Term Program – which will be announced in September.
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