Scary year-end inflation forecast

Pamir said, “We can see the announced figure as being a signal that inflation will trend higher in the coming periods. The question marks over the Republic of Turkey Central Bank’s independence should be dispelled. To calm the markets, the Central Bank must take action rather than making announcements.”

Halk Yatırım Araştırma Director Banu Kıvci Tokalı said, “The first developments in September (such as the new increases made to electricity-natural gas prices and the exchange rate trend) also indicate that the rising trend in annual inflation will continue and may increase to the 19% levels. Considering the knock-on effect of the exchange rate, we are increasing our year-end forecast of 15.3% to 18.8%. As to our 2019 forecast, we are moving it more modestly upward from 11.5% to 13.8%.”

http://www.cumhuriyet.com.tr/haber/ekonomi/1072537/Yil_sonu_icin_urkutucu_enflasyon_t ahmini.html