Bloomberg survey: Average inflation expectation in Turkey exceeds 55 percent

Average inflation expectations rose above 55 percent in Bloomberg’s survey. The official inflation announced by the Turkish Statistical Institute (TURKSTAT) was 54.44 percent as of February. The figure is given above 120 percent by independent research institutions.

According to Bloomberg’s survey with the participation of 24 economists between March 18-23 showed that the average inflation expectation in Turkey in 2022 was 55.7 percent. In the previous survey, the figure was 43.7.

The survey also raised the average inflation forecast for 2023 from 19.2 percent to 21.8 percent.

In the survey, the 2022 growth forecast was 3 percent and the 2023 growth forecast was 3.4 percent.