Free Trial
ENERGY

What to Watch:

GILTS

Opening calls

GERMAN DATA

Industrial Production Sees Softer Decline in June

EQUITIES

Cash opening calls

USD

In the green against G10

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Inflation Expected To Continue To Accelerate in Q3

TURKEY
  • Companies such as Vodafone Group, Citigroup and Dutch coffee seller JDE Peet’s have already started ‘hyper-inflationary accounting’ which factors in the effects of local currency depreciation. KPMG said switching to this rule applies when the cumulative price rise in the past three years has exceeded 100%. Bloomberg Economics predicts annual inflation will reach a high of 91% in the third quarter and only slow to 69% at the end of 2022.
  • This week, economic data showed that CPI inflation accelerated to 79.6% in July, up from 78.6% the previous month, pushing real yields to new lows, which should continue to weigh on the TRY.
  • The Turkish Defence Ministry has said that three ships loaded with corn have left Ukraine ports on Friday morning, with one more ship set to leave later today.
  • Responding to WORLD, Russian state company Rosatom, the owner of the Akkuyu Nuclear Power Plant project in Turkey, has said that a significant portion of the amount spent on construction will return to Russia, considering their investment to be sufficient. Rosatom Press Service have previously stated that the company plan to obtain a loan of 6.1 billion dollars for the construction of the project.
196 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • Companies such as Vodafone Group, Citigroup and Dutch coffee seller JDE Peet’s have already started ‘hyper-inflationary accounting’ which factors in the effects of local currency depreciation. KPMG said switching to this rule applies when the cumulative price rise in the past three years has exceeded 100%. Bloomberg Economics predicts annual inflation will reach a high of 91% in the third quarter and only slow to 69% at the end of 2022.
  • This week, economic data showed that CPI inflation accelerated to 79.6% in July, up from 78.6% the previous month, pushing real yields to new lows, which should continue to weigh on the TRY.
  • The Turkish Defence Ministry has said that three ships loaded with corn have left Ukraine ports on Friday morning, with one more ship set to leave later today.
  • Responding to WORLD, Russian state company Rosatom, the owner of the Akkuyu Nuclear Power Plant project in Turkey, has said that a significant portion of the amount spent on construction will return to Russia, considering their investment to be sufficient. Rosatom Press Service have previously stated that the company plan to obtain a loan of 6.1 billion dollars for the construction of the project.