Turkish Statistical Institute (TUIK) announced April 2022 inflation data recently. According to the agency’s statement, monthly consumer inflation in April was 7.25%. On an annual basis, inflation has reached 69.97%. Evaluating this announced data, the US-based investment bank JPMorgan also Turkey about inflation He shared his prediction.
Year-end inflation forecasts for Turkey have been updated. The world’s largest bank by market capitalization JPMorgan The new forecasts made by Turkish Airlines show that inflation in Turkey will not decrease in the short term.
We survived the bad, worse is on the way! Inflation forecast for Turkey announced
JPMorgan According to analysts, inflation data will see 72% levels in May 2022. According to the forecast of the bank, we will see inflation rates varying between 65-75% until December 2022. It is expected that the strong base effect will reflect positively on inflation in December 2022. Analysts also evaluated the policy rate stance of the Central Bank of the Republic of Turkey (CBRT) in their statements about Turkey.
According to JPMorgan, 14 percent policy rate is not a logical move in an environment where inflation has soared to 70 percent. CBTIt is clear that Turkey has not made a move to change its policy. JPMorgan thinks that inflation pressures will be reduced by keeping the Turkish lira stable. In the last period, there were difficult times with the very high exchange rate. In this context, we will wait and see the new moves of the CBRT.