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Published on Monday, June 4, 2018 | Updated on Monday, June 4, 2018

Turkey | Inflation outlook deteriorated further in May

Consumer prices increased 1.62% (mom) in May, slightly higher than BBVA Research & Consensus estimate of 1.45%. Annual consumer inflation jumped to 12.15% from 10.85% on a broad-based worsening. We expect a limited hike (around 50bps) in the next CBRT meeting on June, 7 to strengthen its recent policy decisions and enhance credibility.