Turkish Inflation to Shift Into Higher Gear After Tax Hikes
- Inflation set to accelerate for the first time since October
- Budget measures, gradual rate hikes hinder inflation fight
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After eight months of deceleration, Turkish inflation probably ticked back up in July on the back of a string of tax hikes introduced to fix a swelling budget deficit.
Price growth accelerated to an annual 46.8% last month from 38.2% in June, according to the median forecast in a Bloomberg poll of economists.