Ankara, Turkey. Turkey’s annual consumer price inflation eased to 31.8 per cent in July, slightly below economists’ expectations, according to state statistics agency TurkStat.
Inflation data
Annual consumer price growth slowed for a second consecutive month from 32.1 per cent in June. The figure was marginally below the 31.9 per cent median forecast in a Bloomberg survey of economists.
Monthly inflation, however, accelerated to 1.78 per cent in July from 1 per cent in the previous month, indicating renewed price pressures.
Central bank outlook
Bloomberg reported that the war in Iran and resulting turmoil in energy markets were likely to encourage a cautious stance by Turkey’s central bank.
The lira was little changed following the release of the data, trading at 47.54 against the US dollar.
