Inflation

U.S. producer prices unexpectedly fell in July, recording their biggest drop in nearly a year and pointing to a further moderation in inflation that could delay a Federal Reserve interest rate increase.

Greece's annual EU-harmonized inflation rate was steady in July, statistics service data showed on Wednesday.

The reading in July was 0.9 percent, unchanged from June.  

Negative interest rates imposed by central banks have generally worked as a tool to boost inflation, pulling down yields and sometimes weakening currencies, International Monetary Fund research has concluded.

Deputy Prime Minister Mehmet Şimşek has welcomed a drop to single digits in Turkey's inflation rate, predicting a sharper fall to below 7 percent next year. 

Deputy Prime Minister Mehmet Şimşek has welcomed a drop to single digits in Turkey's inflation rate, predicting a sharper fall to below 7 percent next year. 

Turkey's monthly inflation rose 0.15 percent in July over the previous month but annual inflation dropped to 9.79 percent, its lowest level in six months, the Turkish Statistical Institute (TÜİK) stated on Aug. 3.

Consumer price inflation fell by 1.1 points, down from 10.9 percent in June, according to TÜİK.

The Turkish Central Bank raised its end-2017 inflation forecast to 8.7 percent on Aug. 1 from a previous 8.5 percent, citing double-digit increases in food prices.     

Farmers may soon hit the streets unless the sector's deep problems are resolved, a leading association has warned, adding that the agricultural sector has become a scapegoat in explaining why the inflation rate is so high. 

The Central Bank kept its main interest rates steady on July 27, in line with market expectations, noting that it would maintain its tight monetary policy until the inflation outlook improves significantly. 

It kept marginal funding rate at 9.25 percent and borrowing rate at 7.25 percent on July 27.

The consumer price index in June 2017 compared to May 2017 was 99.5%, i.e. the monthly inflation was -0.5%. The inflation rate since the beginning of the year (June 2017 compared to December 2016) has been 0.7% and the annual inflation in June 2017 compared to June 2016 was 1.9%.