Turkey CPI YoY in 2015
Turkey CPI YoY opened 2015 at 7.24% and closed at 8.81%, a +21.65% move for the year. The high of 8.81% was reached on December 1, and the low of 6.81% on July 1.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 7.24% | 7.24% | 7.24% | 7.24% | +0.00% |
| Feb | 7.55% | 7.55% | 7.55% | 7.55% | +0.00% |
| Mar | 7.61% | 7.61% | 7.61% | 7.61% | +0.00% |
| Apr | 7.91% | 7.91% | 7.91% | 7.91% | +0.00% |
| May | 8.09% | 8.09% | 8.09% | 8.09% | +0.00% |
| Jun | 7.20% | 7.20% | 7.20% | 7.20% | +0.00% |
| Jul | 6.81% | 6.81% | 6.81% | 6.81% | +0.00% |
| Aug | 7.14% | 7.14% | 7.14% | 7.14% | +0.00% |
| Sep | 7.95% | 7.95% | 7.95% | 7.95% | +0.00% |
| Oct | 7.58% | 7.58% | 7.58% | 7.58% | +0.00% |
| Nov | 8.10% | 8.10% | 8.10% | 8.10% | +0.00% |
| Dec | 8.81% | 8.81% | 8.81% | 8.81% | +0.00% |
Events During 2015
The PBoC devalued the yuan by 1.9% in a single day on August 11, 2015, the first meaningful devaluation since 1994. Global risk assets convulsed.
Brent crude fell from $115 in June 2014 to $27 in January 2016, a 77% collapse. Shale oversupply and OPEC's refusal to cut production broke the commodity supercycle that had dominated markets since 2003.
The Swiss National Bank abandoned its 1.20 EUR/CHF floor on January 15, 2015. The franc immediately surged 30%, blowing up retail FX brokers and exposing the fragility of exchange rate commitments.
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