Macroeconomic Forecast Turkey

A jump in food prices has seen consumer price inflation spike recently, with headline inflation registering a 1.2% month-on-month (m-o-m) increase in September, up from 0.4% m-o-m in August and -0.5% in July. Wildfires and summer drought in Russia and Ukraine over the summer has led to a bottleneck in global grain supplies and sent grain prices higher.

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