According to Reuters survey inflation expected to rise to 12.7 percent in February

The Consumer Prices Index (CPI) is expected to rise by 0.65 per cent month-on-month, led by food in February, while annual inflation is expected to rise from 12.15 per cent in January to 12.7 per cent in February.

Following a sharp depreciation in the exchange rate, annual inflation in October 2018 had seen a record high of 25.24 per cent for the past 15 years. Annual inflation has entered a downward trend since this date, but permanent single digits in inflation have not yet been reached.

According to a survey Reuters has made with participation of 15 institutions, it is observed that inflation forecasts for the end of the year stand at 10 per cent. This figure is above the Central Bank’s 8.2 percent forecast and 8.5 percent expectation in the Medium-Term Plan.

On the other hand, TUIK is expected to announce February inflation data on March 3 at 10:00 a.m.