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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)
TURKEY MAY CPI RISES +2.98% M/M (FCST 4.00%); APR +7.25% M/M
TURKEY MAY CPI RISES +73.50% Y/Y (FCST 74.70%); APR +69.97% Y/Y
TURKEY MAY CORE CPI RISES +56.04% Y/Y (FCST 55.72%); APR +52.37% Y/Y
- Turkish inflation rose a further 3.53pp in May, slightly below the close to 5pp jump forecasted, hitting +73.50% y/y and thus the highest rate since 2002.
- Prices saw a softer acceleration of +2.98% m/m in May, compared to the substantial +7.25% m/m rate recorded in April.
- The key upwards drivers were transport, where prices had over doubled (+107.62%), followed by food (+91.63%), furnishings & household equipment (+82.08% and hotels, and restaurants (+76.83%).
- Food price inflation remains concerning in Turkey, albeit the +91.63% y/y rate recorded in May will be a minimal sign of relief following rthe almost +20pp jump seen in April.
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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