Unicredit: Inflation Will Peak in Turkey
Unicredit said, “Inflation will peak in Turkey,” in its note for Central and Eastern European countries.
In the note prepared for the Central and Eastern European countries, Unicredit also announced its macroeconomic projections for Turkey. The agency predicted that Turkey’s annual inflation would rise in February.
In the expectation note for Central and Eastern European countries prepared by economists, including Gökçe Çelik, it was predicted that the annual inflation in consumer prices would rise to 15.4 percent in February due to core indicators and high energy inflation. The note also stated that the annual core inflation is expected to rise to 16.2 percent in February.
In the assessment made by the institution, it was stated that the effects of exchange rate pass-through seen due to the depreciation of the Turkish Lira in the previous period may lose momentum, however, the effects of other factors that increase costs may continue.
In addition, the institution stated that the trend in inflation will be upward over the next two months and will see a peak of over 16 percent in April. After this rise, it was stated that the gradual disinflation process will begin in May.