Inflation expectation down at 6.56 pct: Turkey C.Bank

Expectations stood at 6.61 percent two weeks ago.

Inflation expectation down at 6.56 pct: Turkey C.Bank

Expectation of Turkey's year-end consumer inflation has dropped to 6.56 percent, a Central Bank poll showed on Tuesday.

Expectations stood at 6.61 percent two weeks ago.

Central Bank's bimonthly survey of expectations is conducted on experts and decision makers from the financial and real sectors and professionals, pertaining to consumer price inflation, interest rates, exchange rate, current account balance and growth rate.

Turkish statistics authority, TurkStat, announced last week that consumer prices index (CPI) increased 0.41 percent and the producer prices index (PPI) was up 2.36 percent in January 2011. As of January, annual inflation was recorded at 4.9 percent based on CPI and 10.8 percent based on PPI.

Central Bank's survey also showed that growth expectation for 2011 remained unchanged at 5 percent. It was the same in both surveys of January. However, growth expectation for 2012 fell to 4.8 percent from 4.9 percent.

Expectation of current account deficit rose to 48.54 billion USD from an earlier projection of 48.41 billion USD.

The poll also showed that the Turkish lira was seen ending the year at 1.57 against the U.S. dollar, weaker than the previous survey's 1.55.

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Last Mod: 08 Şubat 2011, 16:47
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