According to TÜIK data, in February, inflation showed an increase of 2.96%, while annual inflation was 31.53%.
In a survey of expectations conducted with the participation of 33 economists, the average monthly inflation expectation for February was determined to be 2.87%. The estimates made by economists ranged from 2.30% to 3.39%, and if this average were to be realized, it was predicted that annual inflation would rise to 31.42%.
Analysts argue that Mehmet Şimşek-led Turkish economic administration’s tightened monetary policy has stopped the rise in CPI but is not enough to lower it permanently. Şimşek is criticized for relying on tax rises but not implementing smarter solutions.
On the other hand, private sector’s profit appetite keeps CPI rates high, too. Goods are sold for as much as 300% profit in Türkiye. Turkish Trade Ministry is also criticized for not intervening harsher to prices. People argue that market abusers control pricing.
