Reported 12 months ago
In a surprising turnaround, Turkey’s inflation rate decreased at a quicker pace than anticipated, marking the first decline in eight months. Data revealed that headline inflation dropped to 71.6% in June from 75.5% in May, with monthly price growth at 1.6%, the lowest in over a year. This unexpected deceleration has sparked optimism and interest among investors, with the government's lira bonds rallying and the Turkish currency stabilizing. However, concerns remain over whether inflation will surpass the central bank’s 38% year-end target, especially as price gains in Istanbul show a different trend compared to the national average.
Source: YAHOO