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TURKEY: CA Surplus Widest Since 2019, Inflation Expectations Edge Lower

TURKEY
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  • Turkey's inflation estimate in the next 12 months fell to 27.44% in October from 27.49% in September, according to the latest CBRT survey of market participants. The inflation estimate for the next 24 months also fell, to 18.08% from 18.38%, while the full-year GDP growth estimate fell to 3.1% from 3.2%.
  • Meanwhile, Turkey’s current account surplus widened to $4.324bn (Est: +$4.20bn) in August from a revised +$778m in July. That marks the widest surplus since 2019.
  • Retail sales rose 13.3% y/y in August versus a revised +5.8% in July, according to the Turkish Statistical Institute. On a month-on-month basis, sales rose 2.2% compared to +0.9% in July.
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  • Turkey's inflation estimate in the next 12 months fell to 27.44% in October from 27.49% in September, according to the latest CBRT survey of market participants. The inflation estimate for the next 24 months also fell, to 18.08% from 18.38%, while the full-year GDP growth estimate fell to 3.1% from 3.2%.
  • Meanwhile, Turkey’s current account surplus widened to $4.324bn (Est: +$4.20bn) in August from a revised +$778m in July. That marks the widest surplus since 2019.
  • Retail sales rose 13.3% y/y in August versus a revised +5.8% in July, according to the Turkish Statistical Institute. On a month-on-month basis, sales rose 2.2% compared to +0.9% in July.