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              

Related Articles

Fears over Cyprus gas showdown mount as Turkey sends drill ship

Turkey’s March 21 announcement that it is to send a drill ship to waters off Cyprus could worsen a showdown over natural gas and oil deposits. US energy company ExxonMobil has already sent its ... more

Turkey’s industry minister talks of 2017 growth of 7.5% amid economic derailing concerns

Turkey’s industry and technology minister is expecting the country to post GDP growth of 7.5% for 2017. Government incentives and a strong contribution from domestic industries would secure the ... more

‘Pro-Erdogan’ holding reportedly set to buy Hurriyet daily and CNN Turk

Turkey’s Demiroren Holding, an unlisted firm seen as backing President Recep Tayyip Erdogan, has agreed to buy the respected Hurriyet newspaper and broadcaster CNN Turk, an official of the holding ... more