Experts forecast 2018 year-end inflation in Turkey to exceed 11 percent

In the CBRT (Central Bank) Survey of Expectations, the year-end TÜFE (Consumer Price Index) expectation rose to 11.07 percent from 10.07 percent. While the current year-end TÜFE expectation was 10.07 percent in the previous survey period, it increased to 11.07 percent in this survey period.

According to the results of the Central Bank Expectations Survey, the TÜFE expectancy 12-month ahead which was 9.62 percent in the previous survey period was found to be at 10.15 percent in this survey period. The TÜFE expectation 24 months ahead was  calculated to be 8.63 percent and 8.98 percent in the same survey period, respectively.

Consumer inflation (TÜFE) expectation for May 2018 which was 0.76 percent in the previous survey period was found 0.99 percent in this survey period. The June TÜFE expectation was 0.32 percent and 0.49 percent in the same survey period. July TÜFE expectation was 0.51 percent.

On the other hand US$ /TL expectation for the end of the year was forecasted at 4.44.

The current account deficit expectation for 2018 which was US$ 50.8 billion in the previous survey period rose to US $ 53.5 billion in this survey period. The current account deficit expectation for 2019 was US $ 49.0 billion and US $ 51.3 billion for the same survey period, respectively.

GDP growth expectation for 2018 was 4.7 percent in the previous survey period, while it was calculated at 4.6 percent in this survey period. The growth expectation for 2019 was 4.5 percent and 4.4 percent for the same survey period, respectively.