Turkey's Annual CPI in June Higher Than Forecast

Turkey's annual inflation rate rose more than expected in June, mainly due to rising food prices. 
The consumer price index rose 7.64% in June from a year earlier and increased 0.47% from the previous month, the state statistics agency said Monday. The June inflation rate had been forecast to remain unchanged on a monthly basis, bringing the annual inflation rate to 7.1%, according to a market consensus. 
The domestic producer price index increased 3.41% in June from a year earlier and increased 0.41% from the previous month. 
At 0710 GMT, the Turkish lira was trading slightly higher at TRY2.8900 against the dollar, compared with TRY2.8917 before the announcement. 
The yield on two-year benchmark government bonds was steady at 8.48%. 
The main BIST-100 stock index maintained its gains and was up 0.3%, ahead of a religious holiday, which begins this afternoon, and markets will reopen on Friday.