Turkey’s Inflation Turnaround Is Arriving After Peak at Over 75%
- Economists see first slowdown of price growth in eight months
- Rate cuts will probably remain off table through much of year
A customer at a stall at the Friday Bazaar market in Istanbul.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
Turkish inflation probably decelerated for the first time in eight months, ushering in some relief from a cost-of-living crisis that saw price increases top out above 75%.
With domestic demand beginning to sag, data due Wednesday will show annual inflation slipped to 72.6% in June, according to the median forecast in a Bloomberg survey of economists. Monthly price growth, the central bank’s preferred gauge, was probably the slowest in over a year at 2.2%.