Turkey’s Consumer Index (CPI) peaked at 19.25, the highest volume since April 2019, with food, hotel and restaurant prices growing much more than expected in recent months.
With the continuation of the value in TL and the estimation of food prices, the CPI will rise to 19.7 percent from September, and a death rate of 1.35 percent is expected.
Seeing with Reuters’ 17 outlooks, the upcoming forecast for September ranges from 18.94 percent to 20.90 percent. Monthly inflation forecasts, on the other hand, hovered between 0.71 percent and 2.3 percent.
The Central Bank, which was applied above the inflation policy rate, reduced the one October repo rate to 18 percent once a week after the pressure in the concentration.
“Accelerated TL’s Losses”
The news, “The CBRT Chairman Şahap Kavcıoğlu’s interest rate cuts, which increased with core inflation, accelerated the increase in the dollar 16 percent plus TL this year,” the report said.
Economists revise the year-end CPI forecasts, which will review the risks in the direction of the course and the course of the increasing trend, after each data continuously. The cumulative effect of past depreciation in TL is still hissing in the CPI.
All of the year-end forecasts of economists in the Reuters survey seem to be updated above the TC recently, which is above the 14.1 forecast.
In the news of Reuters, the statement was also included, “The market is increasing the increase of the CBRT, which has overtaken the last 2 interest rates.”