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September Inflation Data Coming Up (0800BST/1000 Local)

TURKEY

September inflation data is on the docket later this morning (0800BST/1000 local time). As per the median estimate of the Bloomberg survey, the headline figure will rise to +61.60% y/y from +58.94% y/y in August. Core CPI is seen rising to +67.20% y/y (Prior: +64.85%) while the monthly figure is seen recording a +4.78% increase (Prior: +9.09%).

  • ING expect annual inflation to increase further to +61.5% y/y (with a +4.7% m/m reading). This is because the deterioration in pricing behaviour, currency weakness, widespread increase in wages and tax adjustments and markedly negative ex-post and ex-ante real policy rate will mean inflation will likely remain under pressure in the near term.

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