Turkey’s Inflation Cools Faster Than Expected in Turnaround
- Price growth in June slows more than forecast by any economist
- Aggressive rate hikes set stage for period of disinflation
This article is for subscribers only.
Turkish inflation eased for the first time in eight months, a faster-than-estimated slowdown from a peak reached in May that puts consumer prices on course for a steep deceleration during the summer months.
Data on Wednesday showed headline inflation slipped to 71.6% in June, from 75.5% the previous month. Monthly price growth, the central bank’s preferred gauge, came in at 1.6%, the lowest in more than a year.