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Turkey's Central Bank Interest Rate Policy - Inflation Rates

By Alejandra Pousa, 03/06/21


Mr. Kavcioğlu from Turkey's Central Bank told the press that the government was determined to keep the policy rate above inflation until strong indicators pointed to a permanent decline in the latter. ''Expectations of premature easing in the market are completely unjustified'', he said.

TÜİK announced the following inflation rates for the month of May:

TÜFE (CPI - Consumer Prices Index) 
  May 2021 May 2020 May 2019
Comparison with last month 0.89% 1.36% 0.95%
Comparison with Dec.2020 6.39% 4.57% 4.99%
Comparison with May 2020 16.59% 11.39% 18.71%
Average of last 12 months 14.13% 12.10% 19.91%

Source: Hürriyet/TÜIK

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