Market News
Turkey inflation falls to 33.52% in July, below forecast - REUTERS
Summary
- July month-on-month inflation at 2.06>#/li###
- Central bank resumed easing cycle with 300 bp cut in July
- Simsek says disinflation in line with targets
ISTANBUL, Aug 4 (Reuters) - Turkish annual consumer price inflation dipped more than expected to 33.52% in July, official data showed on Monday, sustaining a downward trend despite strong rises in housing and education sector prices. Month-on-month, inflation was 2.06%, the Turkish Statistical Institute said, below forecasts. In June, CPI inflation was 1.37% monthly and 35.05% annually.
On July 24, the central bank cut its policy rate by 300 basis points and relaunched an easing cycle, while saying that leading indicators suggest a temporary rise in monthly inflation in July due to month-specific factors.
