Turkish end-year inflation expectations rise to 7.29% in April

By bne IntelliNews April 17, 2015

End-year inflation expectations rose, for a second consecutive month, to 7.29% y/y in April from 6.98% y/y in March, the Central Bank said on April 17.

Participants of the Central Bank’s monthly expectations survey also revised up their 12-month ahead inflation expectations from 6.78% to 6.91%. Consumer prices are expected to increase 0.85% m/m in April, higher than the previous month’s estimate of 0.73% for April.

GDP growth expectations for 2015 were cut to 3.1% in April from a previous 3.3%. The country’s current account deficit is expected to be $37.9bn at the end of 2015 whereas the previous estimate was $39.4bn.

Central Bank Expectations Survey              
  Oct Nov Dec Jan Feb Mar Apr
End-Year Inflation (%) 9.16 9.22 9.02 6.82 6.77 6.98 7.29
12-Month Ahead Inflation (%) 7.54 7.50 7.21 6.81 6.69 6.78 6.91
End-Year Current Account Deficit ($ bn) -47.8 -46.7 -44.6 -41.4 -40.3 -39.4 -37.9
End-Year GDP Growth (%) 3.2 3.2 3.0 3.4 3.5 3.3 3.1
Source: tcmb              
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