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Published on Wednesday, April 4, 2018 | Updated on Wednesday, April 4, 2018

Turkey | Sticky Inflation

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Summary

Consumer inflation recorded 0.99% (mom) in March, in line with the market expectation (1%) but higher than ours (0.75%) on the discrepancy due to surprising food inflation.Recent exchange rate depreciation, upward risks on growth and high inertia (backward and forward looking) obviously create upside risks for our year end 9% forecast.