Turkey | Still worrisome inflation outlook

CPI increased by 2.67% in October (slightly higher than market & BBVA Research expectations of 2.5%). Annual consumer inflation maintained its upward trend by reaching 25.2%, up from 24.5% in September. We expect the inflation to come down to 23.5% at the end of 2018 on recent tax cuts on automobile and durable goods and lagged effects of current price discount campaigns.

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