Economists surveyed by Anadolu Agency Finance conducted ahead of the official data release by the Turkish Statistical Institute (TÜİK) expect Türkiye’s Consumer Price Index (CPI) to rise 1.82 percent month-on-month in July.
The survey, which included 17 economists, showed monthly inflation forecasts ranging from 1.35 percent to 2.1 percent.
Based on the average estimate of 1.82 percent, annual inflation is expected to ease to 31.8 percent in July from 32.11 percent in June.
Economists’ average year-end inflation forecast stood at 29.55 percent.
Türkiye’s CPI increased 0.99 percent month-on-month in June.
TÜİK will unveil the nationwide inflation data for July next week on Aug. 3.
In the accompanying statement to the Monetary Policy Committee’s July 23 interest rate decision, the Central Bank said that the underlying trend of inflation decreased slightly in June. “Leading indicators suggest that the underlying trend will rise temporarily in July,” it warned.
At its July meeting, the bank kept its policy rate unchanged at 37 percent, as the markets expected, extending its monetary policy pause for a fourth consecutive meeting.
