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Turkey: Unpleasant upside surprise on inflation

Tue, Nov 4 2008, 13:18 GMT
by Lars Christensen

Danske Bank A/S


We had expected a moderate downside surprise for Turkish inflation in October. We were disappointed greatly as inflation actually surprised on the upside. CPI grew by 12% y/y in October, up from 11.1% y/y in September (and well above the consensus expectation of 11.0% y/y). Similarly, PPI grew by 13.3% y/y in October, up from 12.5% y/y in September, albeit lower than the consensus forecast of 15.0% y/y.

Published on  Tue, Nov 4 2008, 13:20 GMT

Danske Bank  | Holmens Kanal 2-12, DK-1092 Copenhagen
http://www.danskebank.com/ | danskeresearch@danskebank.com

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