Surprise Core Drop Suggests Turkey Inflation May Have Peaked
- Core inflation unexpectedly drops while headline CPI climbs
- Turkstat method revision may have triggered lower core rate
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Turkey’s core inflation eased in April, suggesting that consumer price gains may have peaked even as the headline rate rose to the highest since 2008.
Annual core inflation, which strips out the impact of volatile items such as food, slowed to 9.4 percent from 9.5 percent in March, compared with the median estimate of 9.9 percent in a Bloomberg survey of economists. Headline inflation accelerated for a fifth month to 11.9 percent from 11.3 percent during the same period, the state statistics office said Wednesday -- the highest since 2008 and faster than economists forecast.