Turkey: Uptick likely in December CPI – TDS

Analysts at TD Securities point out that Turkey’s December CPI is due today and they expect another upside tick to 12% YoY in the headline figure (cons: 11.5% prior: 10.6%).

Key Quotes

“This print is consistent with a 0.9% m/m reading that is slightly below the 3m m.a. although the consensus expects +0.4% m/m. Core figures are also likely to rise. The consensus anticipates 9.6%y/y for Core-C CPI.”

“Overall, despite inflation quickening, we think the CBRT may still attempt more easing in Q1 2020, before markets force tightening later in the year.”