Turkish Statistical Institute (TUIK) will announce inflation data for the period of March 2022 today. The inflation expectations of the experts are not very encouraging…
The cost of living in Turkey continues to increase with the increase in raw material and production costs. Turkish Statistical Institute (TUIK)announced the monthly consumer inflation as 4.84% and 54.44% on an annual basis in the latest data it shared for February, today the Turkstat’s It is expected to share data for March as well..
According to experts, the data to be presented by TURKSTAT will enable a new threshold to be crossed. According to the survey conducted by Reuters with 17 participants, Turkstat is expected to announce. March inflation is between 58.25% and 62.7% on an annual basis will happen. Consumer inflation hit the 60% threshold at last During March 2002 exceeded by 65.1%. The year-end inflation forecast of the Central Bank of the Republic of Turkey was 23.2%, while that of the Treasury was 24%.
Year-end inflation forecast increased
The survey points out that an increase is expected in the monthly inflation forecast compared to the previous month. According to this, experts, monthly inflation of TUIK at a level between 3.57% and 6.5% waiting for the explanation. This month’s forecasts show that the Russia-Ukraine war also hit year-end inflation forecasts. Experts increased their year-end inflation expectation to 54% this month, from 38% in the previous survey.
At the end of this year, due to the sharp rises in November and December 2021, there is a significant base effect that will reduce inflation, despite this effect, year-end forecasts continue to increase. Forecasts show that inflation will remain at higher levels for a long time…