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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.
TURKEY
MNI (London)
- Headline inflation accelerated a further 5.1pp in June to +78.62%, coming in 1.3pp shy of consensus forecasts. This is the highest rate since 1998. The month-on-month change was also slightly softer than anticipated, still at a hot 4.95% up almost 2pp from May.
- Core CPI (ex. food, energy, tobacco, gold) rose to 57.26% y/y, up just over 1pp from May.
- Factory-gate inflation jumped another 6.1pp to 138.3%.
- Modest signs of slight deceleration became evident in the June print, with eight out of the twelve main categories seeing slower price growth (including communication, clothing, education, health). Transportation continued to see prices soar at +123.37% y/y, followed by food and beverages at +93.93%, continuing to put a substantial squeeze on falling disposable incomes.
- With the lira seeing stark deprecation and interest rates unchanged for the 5th consecutive month in May, monetary tightening remains off the table as the Central Bank of Turkey looks for external pressures to ease.
Source: Turkstat
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.
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