When is the inflation rate announced? What is the inflation expectation in April?

Ahead of the presidential and parliamentary elections to be held on May 14, 2023, TURKSTAT will announce the latest inflation data today. The impact of the earthquakes centered in Kahramanmaraş on the inflation data is expected to continue. The winner of the presidential and parliamentary elections to be held on May 14 will have the power to determine the course of inflation thanks to his economic policies. The opposition vows to return to conventional politics if it wins elections scheduled for this year. Prioritizing economic growth in parallel with government policies, the Central Bank (CBRT) kept the policy rate constant at 8.5 percent in the last meeting of the Monetary Policy Committee (PPK) before the elections.

WHEN AND AT WHAT TIME WILL THE INFLATION RATE BE ANNOUNCED?

The inflation rate for April, which will be shared by TURKSTAT, will be announced on Wednesday, May 3 at 10:00.

HOW MUCH IS THE INFLATION RATE EXPECTED?

Inflation is expected to remain high ahead of the election, rising 2.6 percent monthly in April, driven by food and service prices, while the annual CPI is expected to decline to 44 percent. .

In the Reuters poll of 14 respondents, annual inflation forecasts for April range from 42.44 to 45.4 percent. Although monthly inflation forecasts are between 2.1 percent and 3.6 percent, economists forecast a rise in service items and food prices. While the CPI rose 2.29 percent monthly in March, led by the prices of services, especially education and food, the annual CPI went to 50.51 percent. After rising to 85.51 percent, the 24-year peak, in October last year, the CPI began to fall supported by the base effect and the flat course of the LT.

AA Finance’s expectations survey on April inflation data, which will be announced by TURKSTAT on Wednesday, May 3, resulted in the participation of 16 economists. According to the survey, economists’ average inflation expectations for April were 2.65 percent. The inflation expectations of the economists surveyed for April were in the range of 1.9 percent as a minimum and 3.5 percent as a maximum.

According to the average inflation expectations of economists for April (2.65 percent), it is estimated that annual inflation, which was 50.51 percent in the previous month, will decrease to 44.06 percent. .

On the other hand, economists’ inflation expectations for the end of 2023 decreased from 49.56 percent to 46.26 percent in April.