EUROPE--Turkey
2019-01-27
In the early summer of this year, due to the depreciation of the Turkish lira since the beginning of the year, the commodity prices and electricity costs have risen. The un- stable weather, cool summer, and consecutive holidays in August all contributed to lower RAC sales. The inflation rate rose to 24.5% in September, and consumption was sluggish. In addition, after the Turkey shock on August 10, commodity prices rose as the exchange rate depreciated further.
