Turkish Inflation Nearing Peak While Central Bank Looks Away

A slowdown in Turkish inflation might still be at least a month away, after another uptick in prices pushed the country’s real interest rates further below zero.

Turkey’s central bank has for now looked past the acceleration, relying on its expectations for inflation at the end of the year. Consumer prices rose an annual 12.4% last month, the most since August, according to data released on Tuesday. The median of 22 forecasts in a Bloomberg survey was for 12.7%.