What is the inflation expectation for November? When will the inflation rate be announced?

The government aims to combat inflation by turning the chronic current account deficit into a surplus by implementing an economic program that supports production and exports at low interest rates. With a 3 percent monthly increase in November and a regression limited to 84.65 percent annually, the first decline since the 24-year peak was expected.

WHEN WILL THE INFLATION RATE BE ANNOUNCED?

The inflation rate for November will be released on Monday, December 5 at 10:00 am.

HOW MUCH IS THE INFLATION RATE EXPECTED?

In the Reuters poll of 11 respondents, annual inflation forecasts for November range from 82.7 to 85.3 percent.

The CPI was carried out at 85.51% in October. In the survey, monthly inflation is expected to be 3 percent; Estimates range from 1.9 to 3.4 percent.

It is expected to increase 3 percent monthly in November and a decline limited to 84.65 percent annually.

According to economists, food, tobacco products, furniture, electrical appliances, clothing, and footwear will be the items where high monthly increases will be seen in November. In the Reuters poll, the forecast for the end of 2022 was 69%.

In the last inflation report of the year, the CBRT said inflation would decline rapidly from its current level after November and raised its year-end forecast to 65.2 percent.

Signaling that economic activity continues to lose momentum despite rising inflation, the Central Bank (CBRT) cut the policy rate by another 150 basis points to 9% in response to President Tayyip Erdoğan’s single-digit rate call. Confederation of Turkish Trade Unions (Türk-İş), food inflation calculated in Ankara increased by 4.87% in November compared to the previous month; He also stated that the starvation limit was 7,785 TL and 2,285 TL above the current minimum wage.