Last minute news: TURKSTAT announces inflation data for February

The Turkish Statistical Institute (TUIK) has published the consumer and producer price indices for February. Consumer prices increased by 4.81 percent month-on-month in February, while annual inflation increased from 48.69 percent to 54.44 percent.

TURKSTAT announced the figures of the Consumer Price Index (CPI) for February 2022.

The CPI increased by 11.10 percent in February. Annual inflation, which was 48.69 percent in January, rose to 54.44 percent.

ABOVE EXPECTATIONS

According to a Reuters poll, the Consumer Prices Index (CPI) was expected to rise to 52.95 percent in February, a new peak of 20 years, due to the impact of rising food and energy prices.

In Bloomberg HT’s survey, inflation was expected to rise at an annual level of 52.85%.

CENTRAL BANK YEAR-END EXPECTATION

According to the results of the February “Survey of Market Participants of the Central Bank”, the current year-end inflation expectation was by 4.31 percentage points to 34.06 percent, while the inflation expectation for the next twelve months fell by 0.54 percentage points to 24.83 percent.