{"id":30652,"date":"2026-03-18T23:01:16","date_gmt":"2026-03-18T23:01:16","guid":{"rendered":"https:\/\/www.vtmarkets.com\/tr\/uncategorized\/subat-ayinda-rusyanin-aylik-uretici-fiyatlari-onceki-donemdeki-yuzde-25lik-dususun-ardindan-yuzde-05-artisa-gecti\/"},"modified":"2026-03-18T23:01:16","modified_gmt":"2026-03-18T23:01:16","slug":"subat-ayinda-rusyanin-aylik-uretici-fiyatlari-onceki-donemdeki-yuzde-25lik-dususun-ardindan-yuzde-05-artisa-gecti","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/tr-mena\/live-updates\/subat-ayinda-rusyanin-aylik-uretici-fiyatlari-onceki-donemdeki-yuzde-25lik-dususun-ardindan-yuzde-05-artisa-gecti\/","title":{"rendered":"\u015eubat ay\u0131nda Rusya\u2019n\u0131n ayl\u0131k \u00fcretici fiyatlar\u0131, \u00f6nceki d\u00f6nemdeki y\u00fczde 2,5\u2019lik d\u00fc\u015f\u00fc\u015f\u00fcn ard\u0131ndan y\u00fczde 0,5 art\u0131\u015fa ge\u00e7ti"},"content":{"rendered":"Rusya\u2019n\u0131n \u00fcretici fiyat endeksi (\u00dcFE: \u00fcreticilerin satt\u0131\u011f\u0131 \u00fcr\u00fcnlerin fiyat de\u011fi\u015fimi) \u015fubatta ayl\u0131k bazda %0,5 y\u00fckseldi. Bir \u00f6nceki ay %2,5 d\u00fc\u015f\u00fc\u015f kaydedilmi\u015fti.\n\nBu de\u011fi\u015fim, ayl\u0131k d\u00fc\u015f\u00fc\u015ften ayl\u0131k art\u0131\u015fa ge\u00e7i\u015f anlam\u0131na geliyor. Veri, ocak ile \u015fubat aras\u0131nda \u00fcreticilerin elde etti\u011fi sat\u0131\u015f fiyatlar\u0131n\u0131 kar\u015f\u0131la\u015ft\u0131r\u0131yor.\n\n<h3>\u00dcretici Fiyatlar\u0131nda D\u00f6n\u00fc\u015f, Enflasyonun Geri D\u00f6nd\u00fc\u011f\u00fcne \u0130\u015faret<\/h3>\nRusya\u2019da \u00fcretici fiyatlar\u0131n\u0131n %2,5 d\u00fc\u015f\u00fc\u015ften %0,5 art\u0131\u015fa d\u00f6nmesi sert bir tersine d\u00f6n\u00fc\u015f. Bu, 2025\u2019in sonundaki deflasyonist bask\u0131lar\u0131n (fiyatlar\u0131n genel olarak gerilemesi) b\u00fcy\u00fck \u00f6l\u00e7\u00fcde dip yapm\u0131\u015f olabilece\u011fini g\u00f6steriyor. Toptan seviyede enflasyon bask\u0131s\u0131n\u0131n (fiyat art\u0131\u015f e\u011filimi) yeniden g\u00fc\u00e7lenmesi ihtimali art\u0131yor.\n\nBu veri, piyasada Rusya Merkez Bankas\u0131\u2019n\u0131n (CBR) ikinci \u00e7eyrekte faiz indirimi yapaca\u011f\u0131 y\u00f6n\u00fcndeki beklentiyle \u00e7eli\u015fiyor. CBR\u2019nin politika faizi (ana faiz oran\u0131) %9,5 seviyesinde kal\u0131rken, ocak ay\u0131 t\u00fcketici enflasyonu (hanehalk\u0131n\u0131n \u00f6dedi\u011fi fiyatlar) hedefin \u00fcst\u00fcnde %5,8\u2019deydi. \u00dcFE\u2019deki bu g\u00fc\u00e7lenme, karar vericilere s\u0131k\u0131 duru\u015fu (\u015fahin: faizi y\u00fcksek tutmaya yatk\u0131n) korumak i\u00e7in gerek\u00e7e veriyor. Faizlerin daha uzun s\u00fcre y\u00fcksek kalma olas\u0131l\u0131\u011f\u0131 belirgin \u015fekilde artt\u0131.\n\nBunun \u00f6nemli bir nedeni, 2026\u2019n\u0131n ba\u015f\u0131nda emtia fiyatlar\u0131ndaki (petrol, metal gibi ham madde) toparlanma. Brent petrol y\u0131l ba\u015f\u0131ndan bu yana %15\u2019ten fazla y\u00fckseldi ve yak\u0131n zamanda 2024\u2019ten beri ilk kez varil ba\u015f\u0131na 95 dolar\u0131n \u00fczerine \u00e7\u0131kt\u0131. Rusya ekonomisi enerji ihracat\u0131na ba\u011fl\u0131 oldu\u011fu i\u00e7in bu fiyat art\u0131\u015f\u0131, \u00fcreticilerin gelir ve maliyetlerine do\u011frudan yans\u0131yor.\n\nT\u00fcrev \u00fcr\u00fcn (vadeli i\u015flem, opsiyon gibi fiyat\u0131 ba\u015fka bir varl\u0131\u011fa ba\u011fl\u0131 kontratlar) i\u015flemi yapanlar i\u00e7in bu durum, daha g\u00fc\u00e7l\u00fc ruble y\u00f6n\u00fcnde pozisyon almay\u0131 g\u00fcndeme getirebilir. RUB al\u0131m opsiyonu (call: belirli fiyattan ruble alma hakk\u0131) almak veya USD\/RUB vadeli kontratta (futures: ileri tarihte belirli fiyattan al\u0131m-sat\u0131m anla\u015fmas\u0131) k\u0131sa pozisyon a\u00e7mak de\u011ferlendirilebilir. Y\u00fcksek petrol fiyat\u0131 ve s\u0131k\u0131 merkez bankas\u0131, genelde para birimi i\u00e7in destekleyici bir sinyaldir. Bu ortamda rubleye kar\u015f\u0131 pozisyon almak daha az cazip g\u00f6r\u00fcn\u00fcyor.\n\nFaiz piyasas\u0131nda ise vadeli s\u00f6zle\u015fmelerin (forward: iki taraf aras\u0131nda, ileri tarihte belirlenen kur\/faizden i\u015flem anla\u015fmas\u0131) fiyatlamas\u0131, k\u0131sa vadede faiz indirimi olas\u0131l\u0131\u011f\u0131n\u0131n azald\u0131\u011f\u0131n\u0131 yans\u0131tacak \u015fekilde de\u011fi\u015febilir. Rus faiz swaplar\u0131nda (faiz takas\u0131: sabit faiz ile de\u011fi\u015fken faizin takas edilmesi) \u201csabit faiz \u00f6demek\u201d (pay fixed: sabit faiz taraf\u0131nda yer almak) bor\u00e7lanma maliyetlerinin yak\u0131nda d\u00fc\u015fmeyece\u011fi g\u00f6r\u00fc\u015f\u00fcne kar\u015f\u0131 korunma veya bu g\u00f6r\u00fc\u015ften faydalanma amac\u0131yla kullan\u0131labilir. Bu \u00dcFE verisi, piyasan\u0131n CBR\u2019nin ilerideki faiz ad\u0131mlar\u0131nda fazla \u201cg\u00fcvercin\u201d (faiz indirimine daha yatk\u0131n) kald\u0131\u011f\u0131n\u0131 d\u00fc\u015f\u00fcnd\u00fcr\u00fcyor.\n\n<h3>Vadeli Fiyatlama A\u00e7\u0131s\u0131ndan Faiz Piyasas\u0131 Etkileri<\/h3>\n<p>\n\n<p><strong>Hemen i\u015flem yapmaya ba\u015flay\u0131n &#8211; Ger\u00e7ek VT Markets hesab\u0131n\u0131z\u0131 olu\u015fturmak i\u00e7in <a href=\"https:\/\/www.vtmarkets.com\/tr\/trade-now\/\">buraya<\/a> t\u0131klay\u0131n <\/strong> <\/p>\n<!-- \/wp:post-content -->","protected":false},"excerpt":{"rendered":"<p>S\u00fcrpriz d\u00f6n\u00fc\u015f: Rusya \u00dcFE \u015fubatta ayl\u0131k %0,5 artt\u0131; ocakta %2,5 d\u00fc\u015fm\u00fc\u015ft\u00fc. Deflasyon bask\u0131s\u0131 zay\u0131fl\u0131yor, enflasyon sinyali g\u00fc\u00e7leniyor. CBR\u2019nin erken faiz indirimi zor; petrol\/ruble destek buluyor. ABD\/RUB short g\u00fcndemde. Swaplarda pay-fixed \u00f6ne \u00e7\u0131k\u0131yor.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-30652","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=30652"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/30652\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=30652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=30652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=30652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}