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CBRT Boosts Year-End Inflation Forecast to 58% from 22.3%

TURKEY

Erkan's Inflation Report continues, with a sizeable increase in inflation forecasts for year-end:

  • Year-end inflation estimate 58.0% (Prev. 22.3%)
  • Year-end food inflation at 61.5% (Prev. 27.9%)
  • End-2024 inflation at 33% (Prev. 8.8%)
A sizeable upgrade for inflation forecasts into year-end: 58% (Prev. 22.3%) - but largely as expected. Erkan had warned of the risk of higher inflation in the near-term, insisting that the bank will continue tightening as needed, and the material TRY weakness is working it's way into forecasts here.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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