Turkish April inflation comes in at 1.34% m/m, exceeds expectations.

By bne IntelliNews May 5, 2014

Consumer prices rose 1.34% m/m in April versus the market consensus forecast of 0.88% m/m. Annual inflation, consequently, accelerated to 9.38% in April from 8.39% in the previous month. April’s annual CPI inflation figure is the highest since April 2012 when inflation rate stood at 11.14% y/y.

Food prices rose 1.42% (annual rise: 13.15%) in April, adding 0.32 percentage points to the headline inflation, data of the statistics institute TUIK showed on Monday. Alcoholic beverages & tobacco prices increased only 0.02% m/m but the rise in clothing prices was 13.10% m/m adding another 0.86 percentage points to the April inflation. Communication prices increased 0.13% m/m while transportation costs fell 0.54% m/m in the month.

Core inflation, measured by one of the Central Bank’s favourite I-index, showed a 2.12% m/m increase, after rising 1.2% m/m in March. The annual increase in the I-index quickened to 9.74% in April from 9.32% in the previous month. The I-index excludes the prices of energy, food and non-alcoholic beverages, alcoholic beverages and tobacco products and gold.

Domestic producer prices that increased 0.74 in March rose 0.09% m/m in April, TUIK also said. Annual domestic producer price inflation accelerated to 12.98% from 12.31% in March.

The Central Bank, that raised its 2014 inflation forecast to 7.6% from a previous 6.6%, expects inflation to peak in May. The Bank’s official inflation target for 2014 is 5%.

March CPI by Main Expenditure Groups (%)
  Weights m/m y/y
Headline 100 1,34 9,38
Food and non-alcoholic beverages 24,45 1,42 13,15
Alcoholic beverages and tobacco 5,29 0,02 3,13
Clothing and footwear 7,17 13,10 7,63
Housing, utilities 16,41 0,24 4,92
Furnishings, household equipment 7,52 1,57 8,84
Health 2,44 0,93 7,66
Transportation 15,54 -0,54 13,84
Communications 4,70 0,13 0,86
Recreation and culture 3,36 0,09 7,31
Education 2,26 0,97 10,37
Hotels, cafes and restaurants 6,58 0,76 12,48
Miscellaneous goods and services 4,28 -0,10 6,11
Source: tuik      

Related Articles

Turkey easily tops table for Twitter content removal requests

Turkey accounted for more than half of all content removal requests received worldwide by Twitter during the second half of 2016, according to the social media company’s ... more

Europeans everywhere "won’t safely walk the streets", Erdogan says in Ankara speech

Turkish President Recep Tayyip Erdogan continued his war of words with EU governments on March 22, remarking ... more

Turkish Airlines' share price falls further after UK follows US with electronics flight ban

The share price of Turkish Airlines (THY) was down 2.88% by the end of trading on March 21 after the UK joined the US in banning electronic devices larger than smartphones in hand luggage on flights ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss