Inflation is beginning to moderate in Turkey a year on from the country’s failed coup, with government stimulus measures helping to encourage robust growth.

CPI inflation sank to 9.8% in July, from 10.9% in June, having been in double figures since February (see figure 1). A major factor in the decline was the passing through of base effects; the lira plunged against the dollar in 2016, but has recovered somewhat this year, helping to curb import prices, according to the Central Bank of the