Calis Beach and Fethiye Turkey Discussion Forum

Information and Services in Turkey Section => Banks, Interest, Money Transfers, Insurance => Topic started by: JohnF on May 03, 2017, 11:09:04 AM

Title: Inflation up again
Post by: JohnF on May 03, 2017, 11:09:04 AM

Latest figures released show inflation currently running at 11.8%, which is even higher than independent analysts projected (9.98%) for April.  Food and transport showed the largest increases, behind alcohol and tobacco.  Although interestingly, the Turkish Statistical Institute (TÜiK) reckoned it was clothing and footwear that had the largest increases.  Well, the wouldn't want to highlight that food is increasing in price so much, would they?  Or am I just being cynical    :)

I just read a bit in the Sabah (https://www.dailysabah.com/economy/2017/05/03/turkeys-inflation-stands-at-131-pct-in-april-rises-to-1187-in-annual-basis):

The new data was in line with the Turkish Central Bank's recent forecast and previous inflation figures during the past few months.

The Central Bank raised its inflation forecast for 2017 to 8.5 percent from a previous forecast of 8 percent, according to the second inflation report revealed on April 28.

Sorry guys, your arithmetic is even dodgier than a basket of shoeboxes.

Now that the wee fella is the all powerful supreme leader, I wonder what he's going to do about the highest inflation rate for nearly ten years?

JF

Title: Re: Inflation up again
Post by: stoop on May 03, 2017, 11:46:57 AM

Just seen this on twitter. The clouds gather!

https://twitter.com/hashtag/FreeTurkeyMedia?src=hash

Title: Re: Inflation up again
Post by: JohnF on May 03, 2017, 12:07:34 PM

Waste of time mate, according to the wee fella they are all thieves, child abusers or terrorists.

JF

Title: Re: Inflation up again
Post by: stoop on May 03, 2017, 12:10:08 PM

I think there is a protest planned for 5-30pm. Should be interesting.

Title: Re: Inflation up again
Post by: JohnF on May 03, 2017, 12:27:53 PM

Yeah, outside the Turkish Embassy in London.  Good luck with that folks.

All they're doing is giving the wee fella ammunition to use in his anti EU/UK rhetoric. 

I'm not questioning their motives or dedication to this cause, it's admirable.  Unfortunately it's also futile.  Under the current regime that is.

JF

Title: Re: Inflation up again
Post by: kevin3 on May 03, 2017, 13:01:59 PM

                 Absolute power corrupts absolutely.             But it reduces the number of others to blame for failure.

Title: Re: Inflation up again
Post by: yabanci on May 04, 2017, 10:57:27 AM

Inflation will be down to single digit figures by the end of the year according to Deputy PM Nurettin Canikli.

http://www.hurriyetdailynews.com/turkey-will-see-single-digit-inflation-by-end-of-2017-deputy-pm-.aspx?pageID=238&nID=112708&NewsCatID=344

Title: Re: Inflation up again
Post by: Colwyn on May 04, 2017, 11:24:16 AM

Many international economists are suggesting that April may be the peak year for Turkish inflation so Canikli may well be right. Indeed it may be single digit far sooner than he says. What might stop that? A collapse in the currency forcing up the price of imports and debt repayments. Caused, for example, by a dramatic cut in interest rates. But surely that is not going to happen .............

Title: Re: Inflation up again
Post by: Colwyn on May 04, 2017, 12:11:37 PM

Quote from: Colwyn on May 04, 2017, 11:24:16 AM

Many international economists are suggesting that April may be the peak year month for Turkish inflation

Title: Re: Inflation up again
Post by: KKOB on May 04, 2017, 12:58:56 PM

(http://www.clker.com/cliparts/u/f/c/I/P/z/huh-thought-bubble.svg.med.png)