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CBRT Raises Inflation Estimate Shy of Sell-Side Forecast

TURKEY

CBRT governor presents their inflation report, which shows the recent lower trend in commodity prices will impact global inflation positively, with domestic economic activity being sustainable. The report adds that indicators are showing exports maintained a strong performance in the second half of the year and forecasts CPI to peak in Autumn 2022.

Year-end inflation estimate is raised to 65.2% from 60.4% previously, shy of sell-side forecasts who'd seen an estimate of around 70%.


Full inflation forecast changes:

  • 2022 raised to 65.2% from 60.4%
  • 2023 raised to 22.3% from 19.2%
  • 2024 initiated at 8.8%

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