Inflation in EM Has Been Catching Analysts Off Guard for Months
(Bloomberg) -- Analysts have been under-estimating the impact of rising oil prices and a currency rout on inflation in emerging markets.
The Citi Inflation Surprise Index advanced in October for a sixth straight month, the longest streak since 2011. Last month’s rise in consumer prices in Turkey, one of the hardest hit developing markets this year, exceeded the median of 18 estimates compiled by Bloomberg.
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