Inflation in Turkey could rise to 40 per cent in the first half of the year

According to a Reuters poll conducted on January 10-14 with 43 respondents, inflation is expected to be around 40 percent in the first half of 2022 and decline to 27 percent at the end of the year.

The Consumer Price Index (CPI) is expected to hover around 40 percent in the first half of 2022 and decline to 27 percent at the end of the year after the currency crisis last month caused serious price increases and led to an increase in inflation to 36 percent, a 19-year peak.

In line with the calls of President Tayyip Erdoğan, the Central Bank (CBRT) has lowered its weekly repo interest rate by 500 basis points to 14 percent since last September, in line with the calls of President Tayyip Erdoğan.

Interest rate cuts accelerated the decline of the Turkish LIRA against the dollar, causing it to lose 44% in value last year and causing inflation to increase to 36 percent in 2021 to complete.

Source: sozcu.com.tr/2022/ekonomi/enflasyonda-buyuk-tehlike-yuzde-40a-cikabilir-6893065/