The Turkish Statistical Institute (TUIK) has announced the Consumer Price Index (CPI) figures for January.
Accordingly, the change in the consumer price index in January was 6.70 percent compared to the previous month, 6.70 percent compared to December of the previous year, 64.86 percent compared to the same month of the previous year and 54.72 percent compared to the twelve-month period averages. happened as.
The inflation report will be announced today
The central bank will release its first inflation report of the year on Thursday.
Fatih Karahan will announce the first inflation report of 2024 at today’s meeting at 10:30 a.m.
The inflation report to be announced on Thursday is important. The bank’s forecasts will provide information about the monetary policy stance.
Inflation expectations at the end of the year are currently 36 percent. So will there be a revision?
Economist Tonguç Erbaş said the following on this issue:
“Unless there is a big deviation, I don’t think there will be a big deviation from the January inflation targets announced in the previous report. In fact, I expect the 70 to 75 percent scenario to peak and come back.” From the peak it will continue. We will understand that we will not see an inflation process outside the limits, most likely from next week.” “I think that after that we will see an inflation reporting process with minor changes, very similar to that of the Central Bank.” Texts compared to its predecessor. In this respect there will be a change in the goal.”
“Efforts to reduce inflation will continue resolutely”
Central Bank of the Republic of Turkey (CBRT) Governor Fatih Karahan gave his first assessment after his appointment.
Stating that they are determined to continue their efforts to reduce inflation, Karahan said:
“In this regard, we continue our efforts to resolutely combat inflation with our strong team. We are committed to maintaining the necessary restrictive monetary policy until inflation falls to a level consistent with our objective. We closely monitor inflation expectations and price behavior. “We will definitely not allow the inflation outlook to deteriorate.”