Inflation

The National Statistical Institute reported here on Wednesday that inflation in August 2021 was 3.7 per cent compared to August 2020, and 0.8 per cent compared to July 2021.
The inflation rate since the beginning of the year (August 2021 compared to December 2020) was 3.1 per cent.

Fitch Ratings has revised up Turkey's 2021 economic growth forecast to 9.2%, according to the rating agency's Global Economic Outlook for September, released on Sept. 16. 

The new figure is a massive upward revision from the agency's previous upgrade made on Aug. 13 when it revised up Turkey's growth forecast to 7.9%, from 6.3%.

Prime Minister Florin Citu has expressed his trust, on Friday, that the National Bank of Romania (BNR) will intervene in order to "temper the inflation dynamics", after the inflation rate was 5.3% in August .

The annual inflation rate went up to 5.3 pct in August 2021, from 5 pct in July, given that non-food stuffs were more expensive by 7.92 pct, foodstuffs by 2.7 pct, and services by 2.97 pct, according to data published on Friday by the National Institute for Statistics (INS). According to the INS, consumer prices in August 2021 compared to July 2021 increased by 0.2 pct.

The head of Turkey's Central Bank on Sept. 8 signaled a shift away from the sometimes-volatile headline inflation figure to core inflation, an indicator that may better reflect the true strength of the nation's economy.

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The government is working on a package as it has signaled an impending wave of price increases in basic consumer goods and electricity bills.

Turkey's annual inflation rate climbed in August compared to the previous month, the Turkish Statistical Institute (TÜİK) announced on Sept. 3.

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Consumer prices in Turkey rose 19.25 percent year-on-year last month from 18.95 percent in July, TÜİK said.

The European Central Bank announced that the consumer price index of the Eurozone has edged to its highest level in a decade. The bank admitted that it had underestimated the potential risk of price increase in EU. The latest figures may provoke a change in the overall ECB policy aimed at containing inflation at significantly lower levels, Reuters elaborated.

Ljubljana – The annual inflation rate in Slovenia in August stood at 2.1%, mostly due to significantly more expensive petroleum products, while monthly inflation rate was at 0.1%, the Statistics Office reported on Tuesday.

Turkey's Central Bank on Aug. 12 kept its one-week repo rate- also known as the policy rate-steady at 19%, in line with market expectations, for the fifth month in a row.

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