Home / Knowledge / News / Textiles / Inflation falls in Turkey in July
Inflation falls in Turkey in July
04
Aug '15
Turkey's inflation rate fell to 6.81 per cent in July from 7.2 per cent in June, according to the latest inflation report of the Turkish Central Bank.

The Consumer Price Index saw a 0.39 percentage point decline in July from June.

Although inflation decreased on lower food prices in the second quarter of 2015, the accompanying depreciation of the Turkish lira caused core inflation to rise, delaying the desired improvement in the inflation outlook. The prospective partial improvement in food prices and the cautious monetary stance will help to minimize the deterioration of the inflation outlook.

The bank said global financial markets remained volatile in the second quarter of 2015, which was attributed to the continued divergence among global monetary policies, the uncertainty surrounding the Federal Reserve (Fed)'s normalization plans and developments regarding the Greek debt crisis in the EU.

The bank's Overview of Inflation Report July 2015 says that in this period, the volatility in long-term rates has reached quite high levels, especially across advanced economies, which also affected emerging-market rates. Thus, portfolio flows to emerging markets weakened.

The global economic slowdown of 2014 continued into the first quarter of 2015 largely due to emerging economies. Despite signs of economic recovery in Europe, geopolitical tensions continued to restrain Turkey's external demand.

The volatility across global markets had implications for the Turkish economy as well, causing fluctuations in financial indicators amid domestic uncertainty. In this period of heightened volatility in long-term interest rates of advanced countries and added interest-rate sensitivity in emerging economies, the interest-rate corridor and the tight liquidity policy implemented by the Central Bank played a major role in shielding the economy against global shocks. Moreover, the bank's structural and cyclical measures supporting foreign exchange liquidity, core liabilities and long term borrowing strengthened the economy's resilience

The growth in economic activity during the first quarter of 2015 was mainly driven by consumption spending. In this period, exports of goods and services increased quarter-on-quarter whereas imports decreased, thus helping net exports contribute positively to quarterly growth. Indicators for the second quarter suggest that economic activity continues to grow moderately. The global economic slowdown and geopolitical problems cause external demand to remain weak while domestic demand provides a moderate contribution to growth. Therefore, economic activity is expected to follow a moderate and gradual growth path in the upcoming period, the report said. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X