17:19 - 4.09.2026

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September 4, Fineko/abc.az. U.S. investment bank Goldman Sachs noted in its latest report following Turkey's August inflation data that while underlying inflation dynamics have broadly stabilized, rising energy prices pose significant upside risks to the disinflation trajectory.

Economists Clemens Grafe and Basak Edizgil pointed out that while weakening domestic demand continues to anchor core disinflation, higher energy costs threaten the bank’s year-end annual inflation projection of 29%.

Turkey’s headline annual inflation edged down to 31.5% in August from 31.8% in July, matching broader consensus expectations. Goldman Sachs observed that 3-month moving average core inflation momentum has flattened around 1.8% monthly. Given persistent energy price volatility and sticky service sector inflation, analysts expect the Central Bank of the Republic of Türkiye (CBRT) to maintain its hawkish stance and keep policy rates unchanged in the near term.