By Akin Nazli in Belgrade Turkey’s consumer price index (CPI) inflation officially stood at 52% y/y in August versus 62% y/y in July, the Turkish Statistical Institute (TUIK, or TurkStat) said on September 3 (chart). TUIK’s inflation series peaked at 75.45% in May. It is now quickly falling back to the 40%s thanks to the base effect. Putting out a headline figure of below 40% would perhaps prove too much of a stretch even for the country’s infamous statistical institute. At 52% y/y, Turkey remained in third place in the world inflation league. The Istanbul-based ENAG inflation research group o…