Turkey Financial News

Posted by meb at November 4th, 2008

The Turkish Statistics Institute (TurkStat) released its latest inflation figures yesterday, according to which the monthly inflation rate for October was 2.6 percent in the consumer price index (CPI) and 0.57 percent in the producer price index (PPI).

With these figures, the annual numbers reached 11.99 percent for the CPI and 13.29 percent for the PPI. Moreover, the CPI increased 9.60 percent and the PPI rose 12.11 percent in the January-October period of 2008 over the same period last year.

These figures represent a sharp deviation from the previous target of 4 percent for year-end inflation. (more…)

Posted by meb at September 9th, 2008

Turkey’s Consumer Price Index (CPI) inflation is expected to be 10.72 percent by the end of 2008, Turkey’s Central Bank said in its survey of expectations report issued on Tuesday.

According to the figures, the year-end CPI expectation has fallen 0.32 percent compared to figures announced in the previous survey. The previous year-end expectation was 11.04 percent according to the latest survey issued in the August’s second term. (more…)

Posted by meb at September 4th, 2008

Turkey’s consumer price index (CPI) and producer price index (PPI) decreased by 0.24 percent and 2.3 percent, respectively, in August over the same month last year as a result of drops in gasoline and clothing prices.

The Turkish Statistics Institute (TurkStat) released the latest inflation figures yesterday according to which the annual inflation rate as of August was 11.7 percent for the CPI and 14.6 percent for the PPI. Moreover, the CPI increased by 6.35 percent and PPI increased by 12.49 percent in the first eight months of this year. (more…)

Posted by meb at September 1st, 2008

Retail price inflation in Turkey’s largest city Istanbul, increased 1.58 percent month-on-month in August as wholesale prices fell 0.95 percent in the same term, the Istanbul Chamber of Commerce announced on Monday.

The annual rate of retail price inflation increased to 15.74 percent, while wholesales price inflation increased 11.76 percent according to the latest figures.

The figures also show a rise in retail prices of 6.15 percent and in wholesale prices at 8.89 percent in the first eight months of the year. (more…)

Posted by meb at August 14th, 2008

Turkey’s central bank held the benchmark interest rates steady at 16.75 percent as expected on Thursday, a statement issued on the central bank’s official website said.

Turkish central bank had increased interest rates by 1.5 percentage points in the April-July period to fight inflation fueled by rising global oil and food costs.

“Considering the monetary tightening since May, the committee believes that the current level of the policy rate is supportive of disinflation. Yet, prevailing risks regarding the price setting behavior and ongoing global uncertainties require monetary policy to remain cautious and to be more responsive to incoming data,” the bank said in a statement. (more…)

Posted by meb at July 4th, 2008

Turkish consumer prices hit 10.61 percent on a 12-month basis, the Turkish Statistics Institute said Tuesday.

The fall in agricultural inflation by 2.73 percent and the 3.4 percent decline in food prices have been the main factor in the declining consumer price index.

According to the figures, consumer prices were up 6 percent and producer prices were up 13.76 percent in the first half of 2008. (more…)

Posted by meb at June 3rd, 2008

Consumer price index (CPI) rose 1.49 percent, and the producer price index (PPI) climbed 2.12 percent in May, the Turkish Statistical Institute (TURKSTAT) said on Tuesday.

Turkish consumer prices hit 10.74 percent on a 12-month basis, the Turkish Statistics Institute said Tuesday.

Producer or factory gate prices rose 2.12 percent from April to May, bringing the wholesale inflation rate over 12 months to 16.53 percent, it said. (more…)

Posted by meb at June 3rd, 2008

Experts speculate that the rate of inflation may have increased in May for a fourth consecutive month of higher food and energy costs, piling the pressure on the Central Bank to raise interest rates for the second time this year.

The inflation rate may rise as high as 10.4 percent from 9.7 percent in April, according to the median estimate of 10 economists surveyed by Bloomberg. The state statistics agency will release the actual figures in Ankara at 5:00 p.m. today. (more…)