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Published on Tuesday, July 3, 2018 | Updated on Wednesday, July 4, 2018

Turkey | June inflation reaches a worrying 15.4%

Consumer prices increased 2.61% (mom) in June, remarkably higher than expectations. Thus, annual consumer inflation hit 15.4%, the highest level since December 2003, up from 12.2% in May. Assuming no additional negative currency shock, we estimate the year-end inflation to be around 13.5%.