Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Inflation in Turkey in June slowed to the lowest since December 2021


July, 05 2023
watermark Economic news

According to the Statistical Institute of Turkey (Turkstat), inflation in the country in June continued to slow down for the eighth month in a row, reaching the lowest level since December 2021 – 38.2% in annual terms. In May, consumer prices rose by 39.6% compared to the previous year.


A slowdown in the rate of price growth was observed in various areas. The increase in prices for utilities in June slowed to 14.8% from the previous 20.7%, and for transport services – to 21% from the previous 23.7%. The growth rates of prices for furniture, household appliances and medical services also decreased.


However, the cost of food continues to increase and in June it reached a record level for the last three months, amounting to 54% (against 52.5% in May).


Core inflation, which does not take into account the prices of food, energy, tobacco products and gold, also accelerated in June to 47.3% compared to the previous 46.6%.


Last month, consumer prices in Turkey increased by 3.92% compared to May, which is the highest value in the last five months. In May, their growth was only 0.04%.


Recall that the Central Bank of Turkey in June raised its key interest rate for the first time in two years. The rate on seven-day REPO transactions was increased by 6.5 percentage points to 15%, which is the highest level since 2011.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.