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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
- Turkey’s annual inflation eased sharply in August, largely on the back of favourable base effects, with the headline figure seen rising +51.97% Y/Y in August (Est: +51.87%) compared to +61.78% in July. Month-on-month, consumer prices rose 2.47% (Est: +2.29%) versus +3.23% in July. The CBRT currently forecasts inflation at 38% y/y by the end of this year.
- Food and non-alcoholic beverages contributed the most to the decline in the month-on-month reading (see chart below), as had been anticipated by the central bank, who wrote, “Leading indicators suggest that monthly inflation will slow down in August compared to the previous month, led by the low course of food prices” in its latest minutes release.
- Citing an interview given by Vice President Cevdet Yılmaz, Ekonomi report that the updated Medium Term Program will be presented on September 5.
- Later today, President Erdogan will chair a meeting of the ruling AK Party’s central management board.
Figure 1: CPI monthly rate of changes in main groups (%), August 2024
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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