Inflation seen accelerating to 4.29 percent in January
ANKARA
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Consumer prices are expected to increase by 4.29 percent in January from December, according to a state-run Anadolu Agency survey of economists.
In December 2024, the monthly inflation rate was 1.03 percent.
If economists’ expectations materialize, the annual inflation would come in at 41.11 percent in January, down from 44.38 percent in December 2024.
Economists surveyed by Anadolu Agency forecast that the annual inflation rate will be 27.58 percent at the end of 2025.
The Turkish Statistical Institute (TÜİK) will release January inflation data on Feb. 3.
The Central Bank warned earlier this month that while the underlying trend of inflation decreased in December, leading indicators point to an increase in January.
This increase is mainly driven by service items with time-dependent pricing and backward indexation, the bank said in a statement released after the Monetary Policy Committee meeting on Jan. 23.
While inflation expectations and pricing behavior tend to improve, they continue to pose risks to the disinflation process, the bank also said.
Finance Minister Mehmet Şimşek echoed the bank’s worries.
Expectations are still high compared to the inflation outlook, Şimşek said on Jan. 28, commenting on the bank’s Sectoral Inflation Expectations survey.
The survey showed that the 12-month ahead inflation expectations of households declined from 63.14 percent in the December survey to 58.8 percent in the January survey.
The 12-month-ahead annual inflation expectations decreased by 1.7 points to 25.4 percent for market participants and by 3.8 points to 43.8 percent for the real sector in January.