Actual inflation rate in Turkey exceeds forecasts

Baku. 3 February. REPORT.AZ/ Turkey's consumer price index (CPI) rose by 2.46 percent in January, bringing the annual inflation rate to 9.22 percent. Report informs citing the Bloomberg agency expectations show increase in monthly inflation by 1.76%, while annual inflation by 8.6%.

Analytical Group of Report informs, the rapid increase in inflation than expected in Turkey in past few months, associated with an increase in dollar exchange rate by close to 30%. Inflation is expected to fall slightly in the coming months.The reason is assumptions related to the stabilization of dollar at current levels in Turkey.

Analytical Group predicts stabilization of dollar at 3,70-3,80 TRY / USD after falling to the level of 3.60 TRY / USD: Notably a few days ago, Turkey's export indicator for the month of January disclosed.According to the report, Turkey's exports in January increased by 15% in an annual comparison and reached 10.528 bln USD. In December exports increased by 9.3% and amounted to 12.817 bln USD. Therefore, taking into account constant deficit in Turkey's current account sharp depreciation of dollar does not seem possible."

Notably, at reduced credit rating of the country demand for foreign currency has increased. The need can be met only by appreciation of foreign currency exchange rate with the increase in exports.