Annualized Turkey Consumer Inflation eased to 10.43 pct in Feb

Consumer prices increased by 0.56 percent in February which, along with the consumer inflation seen in the previous 11 months, led to an annualized Consumer Price Index (CPI) increase of 10.43 percent.

The latest figures represented minor progress in Turkey’s fight against inflation since the annualized rise in the CPI was at a three-year peak of 10.61 percent in January.

They were also lower than expected, but the news still failed to lift Turkish stocks at the beginning of the week as they were pressured downwards by uncertainty over Greece’s second bailout package and China’s lowered economic growth target.

The İstanbul Stock Exchange’s (İMKB) benchmark İMKB-100 index was down nearly 1 percent at 60,305 points before the first trading session ended, the Turkish Statistics Institute (TürkStat) announced.