Latest news with #TurkishStatisticalInstitute
Reuters
11 hours ago
- Business
- Reuters
POLL Turkey inflation seen dipping to 36.1% in May, monthly rate 2%
ISTANBUL, May 28 (Reuters) - Turkey's monthly inflation rate is expected to be 2% in May, impacted by higher clothing and fruit prices, with the annual rate seen falling to 36.1%, a Reuters poll showed on Wednesday. Economists said a rise in fruit prices due to agricultural frost and a new season in clothing will be the main drivers of May inflation as well as automotive prices, which are directly impacted by currency volatility. The median estimate of ten economists showed monthly inflation dropping to 2% from 3% in April. Forecasts ranged from 1.85% to 2.75%. Year-on-year, inflation is seen sliding to 36.1%, with forecasts ranging between 35.8% and 37%. Turkey's statistics institute predicts fruit production will fall around 25% this year due to frost. "May is a month of clothing price hikes, so we predicted a monthly increase of around 5%, but we may see an upward risk in clothing," said Hande Sekerci, chief economist of Is Portfoy. Sekerci said that due to discounts in some items the moderate course in food prices was continuing despite recent frosts and that core inflation will follow a more positive path in May with household goods, health and housing items on a calm course. In March, Turkish assets suffered, with the lira touching a record low against the U.S. dollar after Istanbul Mayor Ekrem Imamoglu - Erdogan's chief political rival - was jailed pending trial, over graft charges that he denies. The market volatility was stabilised by a central bank rate hike and liquidity steps. The central bank sold some $57 billion in foreign currency and took steps to tighten policy by 700 basis points. The central bank has bought some $13 billion in forex to rebuild reserves in the last three weeks, while it kept the overnight interest rates in the market at 49%, the upper band of its rate corridor. Last week, the central bank kept its year-end forecasts steady in its quarterly inflation report saying upward and downward risks to inflation balance out. Governor Fatih Karahan said the bank is ready to tighten policy if inflation worsens. Inflation is seen dropping to around 30%, opens new tab at the end of this year according to the poll median, higher than the central bank forecast of 24%. Following the volatility and its impact on inflation due to FX-pass through, economists have revised up year-end inflation forecasts since March despite steps taken by the central bank. The low course of global energy prices amid trade war concerns was the main factor limiting upward revisions in inflation, and the year-end estimate in this poll period was revised slightly downwards. The Turkish Statistical Institute will release May inflation data at 0700 GMT on June 3.
Reuters
16 hours ago
- Business
- Reuters
Turkish inflation falls to 35.4% in May, below forecast
ISTANBUL, June 3 (Reuters) - Turkish annual inflation dipped to 35.41% in May, official data showed on Tuesday, below a Reuters poll forecast and less than half the level of more than 75% that it reached a year earlier. Month-on-month, consumer price inflation was 1.53%, the Turkish Statistical Institute said, also below forecasts. In April, inflation stood at 3.0% on a monthly basis and 37.86% annually. In a Reuters poll, the monthly inflation rate was expected to be 2.0% in May, with the annual rate seen at 36.1%. Annual increases were led by education prices which were up 71.67% on the year, while housing prices climbed 67.43%. Food and non-alcoholic drinks prices rose 32.87%. Inflation is seen at around 30% by end-2025, the poll showed, above a central bank forecast of 24%. Economists have revised up year-end inflation forecasts since March despite the central bank's recent tightening steps. In March, Turkish assets suffered, with the lira touching a record low against the U.S. dollar after Istanbul Mayor Ekrem Imamoglu - Erdogan's chief political rival - was jailed pending trial over graft charges that he denies. The domestic producer price index rose 2.48% month-on-month in May for an annual rise of 23.13%, the data showed.
Muscat Daily
2 days ago
- Health
- Muscat Daily
Turkey sees sharp rise in obesity
Istanbul, Turkey – Worldwide, over one billion people are living with obesity. It's become such a serious issue that the World Health Organization has called it an 'epidemic'. According to a 2022 WHO report, Turkey ranks first in Europe for rates of overweight and obesity, with 66.8% of people affected. Turkey is also one of the world's high-income nations that is experiencing the sharpest rise in obesity. By 2030, it's estimated that 27mn people in Turkey – or one in three – will be obese. Health and social experts attribute this trend to insufficient nutrition, social inequality, unhealthy food supplies and a lack of coherent policy strategies. Studies indicate that one in five children in Turkey suffers from malnutrition, at least 10% of whom are overweight or obese. 'Poverty is the problem' For years, Turkey has faced high food price inflation, reducing citizens' purchasing power. Hacer Foggo, a Turkish poverty researcher and activist, said the growing number of obese children can be linked to extreme poverty. 'Malnutrition can stunt growth and lead to obesity,' she said, pointing to a 2022 study by the Turkish Statistical Institute showing that 62.4% of children in Turkey predominantly eat bread and pasta. These findings, she added, have not been taken seriously enough. Bulent Sik, a food researcher, sees a direct link between the rise in child obesity and the widespread consumption of highly processed foods with low nutritional value and a high sugar content. 'The increasing consumption of cheap, easily accessible snacks and sugary soft drinks is directly tied to the rise in obesity,' he said. As long as the manufacturing of these products is not regulated, he added, most political measures remain merely symbolic. Sik also warned of another risk: the use of toxic chemicals in food production, such as pesticides and certain additives that are related to hormonal imbalances and weight gain. 'Some of these toxic substances have a negative impact on hormone systems,' he explained, 'which poses a serious threat, especially for growing children'. He cited a study by Greenpeace Turkey showing that one-third of produce sold in Istanbul contained pesticide residues that can disrupt hormones, impede neurological development and potentially cause cancer. Despite these findings, Sik said, government food oversight policies still focus primarily on calorie counting. National campaign Turkey's Health Ministry has launched a national public health campaign to combat obesity, setting up stations in busy public areas and at event venues to measure citizens' height, weight and body mass index, or BMI. The aim is to identify overweight individuals and refer them to health centres or general practitioners, where they can receive support from nutritional advisers. The ministry hopes its campaign, launched in mid-May, will reach 10mn citizens within two months and help raise awareness about the dangers of obesity while promoting a healthy lifestyle. But the effort has drawn criticism for stigmatising overweight individuals and overlooking the country's broader economic struggles. Healthy foods often expensive Experts say the state has not issued adequate guidelines for healthy eating or restricted the marketing of unhealthy foods. This lack of regulation is putting children and low-income communities at particular risk. 'Political decision-makers are responsible for creating solutions,' said Sik. Healthy and fresh foods are often more expensive and largely inaccessible to low-income households, leading to a nutritional imbalance. This contributes to obesity, growth disorders and iron deficiency in children. Both Sik and Foggo support a nationwide free school meal programme. Foggo criticised the government for failing to act, despite repeated calls. 'In the parliament's protocols, you can see that the Health Ministry has recognised the problem and sees that school meals are the solution. But not a single step has been taken,' she said. Turkey is also facing a shortage of professionals in the field. According to the health and social workers' union Saglik Sen, the number of dietitians working in public hospitals has dropped by nearly 20% over the past five years. DW
Shafaq News
3 days ago
- Business
- Shafaq News
Iraq 5th among top Turkish export markets in early 2025
Shafaq News/ Iraq emerged as the fifth-largest importer of Turkish products in the first third of 2025, according to data released Saturday by the Turkish Statistical Institute (TURKSTAT). Turkiye's exports between January and March reached $86.1B, marking a 3.7% increase compared to the same period last year. Imports also rose by 6.6%, totaling $120.7B. Germany retained its position as Turkiye's top export market, receiving $7.1B in goods. The UK followed with $5.38B, the US with $5.13B, Italy with $4.35B, and Iraq with $3.76B. Iraq remains heavily reliant on imports from neighboring countries—particularly Turkiye and Iran—with additional goods sourced from Gulf states and Jordan in smaller volumes.
Zawya
5 days ago
- Business
- Zawya
Turkey's economy grew 2.0% in first quarter, below forecasts
Turkey's economy expanded 2.0% in the first quarter of the year, below expectations, official data showed on Friday. First-quarter gross domestic product (GDP) grew 1.0% from the previous quarter on a seasonally and calendar-adjusted basis, data from the Turkish Statistical Institute showed. In a Reuters poll, the economy was forecast to have expanded 2.3% in the first quarter. Turkey's economy had grown 3.0% year-on-year in the fourth quarter of 2024, bringing full-year growth to 3.2% and exceeding forecasts despite the weight of high interest rates. Economists forecast an expansion of 3% in 2025 as a whole, slightly lower than last year, the poll showed, reflecting the effects of monetary tightening. In December, the central bank started an easing cycle after having kept the main policy rate steady at 50% for eight months. Inflation has dipped from as high as 75% last May. In April, Turkey's central bank hiked its policy rate by 350 basis points and raised the lending rate to 49% in response to market turmoil that erupted over the arrest of Istanbul Mayor Ekrem Imamoglu, President Tayyip Erdogan's main political rival. (Reporting by Canan Sevgili in Gdansk; Editing by Tuvan Gumrukcu and Jamie Freed)
