An Analysis of the Relationship between Inflation and Gold Prices: Evidence from Turkey

In this paper, we examine the short and long run dynamic relationship between inflation (consumer price index) of gold in Turkey by using monthly data over period 2008m10-2021m04. The finding shows there is no cointegration consumer index Turkey. However, results demonstrate that CPI does Granger cause but dose not CPI. Those are also confirmed short-run S-model long-run properties accumulated impulse responses structural VAR (SVAR) model interaction inflation.