When will the inflation rate be announced? Eyes on December inflation figures…

Inflation increases every month, the power of citizens decreases day by day. Despite the decrease in the inflation rate due to the base effect in November, the money in the pockets of citizens continues to evaporate. According to TUIK, consumer prices increased 84.39 percent annually in November and 2.88 percent monthly. In ENAG, annual inflation was 170.70 percent in November.

WHEN WILL THE INFLATION RATE BE ANNOUNCED?

TURKSTAT will announce December inflation on Monday, January 2, 2022. The data is expected to be released at 10:00 am.

INFLATION MAY CONTINUE LOWER

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.

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. There is a significant base effect on inflation as the strong dollar/TL rises in November and December 2021 did not occur this year. The base effect will be more pronounced in December and January, when double-digit inflation is observed compared to the previous month. Therefore, even if price increases continue, annual inflation will decrease significantly in the next 2 months. 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.