Headline inflation down, core on the rise

Turkey's headline inflation fell by 1.43 percent in June compared to a month earlier, mainly due to a drop in food prices, according to new Turkish Statistics Institute (TurkStat) data.The fall in the consumer price index was well below market expectations of 0.75 percent on average. Meanwhile, yearly inflation dropped to 6.24 percent in June from 7.17 percent in May, according to TurkStat. Economists argue that this trend will reassure the Central Bank about continuing its current monetary policy.There is a general consensus among analysts that given the fall in food prices, the CB might decide to wait longer to raise interest rates.