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TURKEY: CBRT Cite Tax Increase Impact on July Inflation Print

TURKEY
  • Commenting as part of its monthly assessment of price developments, the central bank said tax updates and increases in administrative prices impacted the higher month-on-month inflation reading in July. It noted that while energy prices led increases, annual inflation in core indicators retreated. Note that Governor Karahan will present the CBRT’s next inflation report on August 8 at 08:30BST/10:30 local time.
  • Finance Minister Mehmet Simsek will give an interview to AHaber at 09:10BST/11:10 local time, according to Bloomberg. Meanwhile, President Erdogan chairs a defense industry meeting at 12:00BST/14:00 local time.
  • Looking ahead, industrial production figures for June provide the highlight of the week data-wise and will cross Friday morning.

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