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TURKEY: 12-Month Household Inflation Expectations Fall to 58.8%

TURKEY
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  • Turkey's 12-month household inflation expectation fell to 58.8% in January from 63.1% in December, according to latest data from the CBRT. Meanwhile, the real-sector's 12-month inflation expectations fell to 43.8% from 47.6%. Note that the central bank stated in its January MPC statement that "While inflation expectations and pricing behavior tend to improve, they continue to pose risks to the disinflation process."
  • Since the central bank started easing on Dec 26, deposit rates have decreased by 4.46ppts, Hurriyet report. According to central bank data, 1-3 month term TRY deposit rates fell to 54.98% as of the week of Jan 17, its lowest level in 10 months.
  • There are no other data releases scheduled for today, with trade balance figures for December the highlight of the week on Friday.

Figure 1: Inflation Expectations (12-Month-Ahead, %)

image

Source: CBRT

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  • Turkey's 12-month household inflation expectation fell to 58.8% in January from 63.1% in December, according to latest data from the CBRT. Meanwhile, the real-sector's 12-month inflation expectations fell to 43.8% from 47.6%. Note that the central bank stated in its January MPC statement that "While inflation expectations and pricing behavior tend to improve, they continue to pose risks to the disinflation process."
  • Since the central bank started easing on Dec 26, deposit rates have decreased by 4.46ppts, Hurriyet report. According to central bank data, 1-3 month term TRY deposit rates fell to 54.98% as of the week of Jan 17, its lowest level in 10 months.
  • There are no other data releases scheduled for today, with trade balance figures for December the highlight of the week on Friday.

Figure 1: Inflation Expectations (12-Month-Ahead, %)

image

Source: CBRT