Economists Predict That The Rise in Inflation Will Continue

Economists predict that the rise in inflation will continue. Bloomberg HT Research Unit has published the results.

Economists, who participated in the inflation survey conducted by the Bloomberg HT Research Unit, predicted that the inflation will increase in January. According to the survey conducted by Bloomberg HT Research Unit and attended by 21 institutions, the annual inflation expectation for January was announced as 14.68 percent. The monthly expectation of the economists surveyed for January was recorded as 1.42 percent. If the expectations of economists happen, this rate will mean the highest annual inflation in the last 14 months. The institution sharing the highest expectation in the survey predicted that the consumer price index would rise by 1.82 percent in January, while the institution sharing the lowest expectation would increase by 0.90 percent. In the survey, the inflation expectation for the end of 2021 was realized as 11 percent. In November and December, the inflation rate exceeded economists' expectations. According to data released by Turkish Statistical Institute (TURKSTAT), annual inflation was 14.60 percent in December.   CBRT Announced Its Inflation Forecast Central Bank of the Republic of Turkey (CBRT) did not change its forecasts in the first inflation report presentation of the year. CBRT Governor Naci Ağbal said the following regarding the issue: "We expect inflation to be 9.4 percent at the end of 2021, 7 percent at the end of 2022, and to stabilize by declining to the medium-term target of 5 percent by the end of 2023." However, the CBRT had increased its food inflation forecast.         Source: Bloomberg HT