Inflation Report: ​Inflation forecast is up, but still sanguine

TURKEY - Report 28 Apr 2022 by Murat Ucer

The second Inflation Report of the year has been released today, where the Bank, as expected, raised its yearend inflation forecast for 2022 markedly higher to 42.8% (midpoint of a range between 38.7% and 46.6%) from 23.1% in the January report. The 2023 forecast was also raised by 4.7 pps to 12.9%, which is expected to ease to 8.3% by 2024.

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