Leading data show inflation will continue to rise By Investing.com

Investing.com – It will be announced in February domestically today. With the increase, which is the leading data, the expectations are that a figure will come close to 15.5% in February.

Inflation, which rose from 11% in the last quarter due to the rise in exchange rates in 2020, continued to rise in the first month of the year. The reflection from ‘, namely the cost factor, was effective in this rise, especially the rise in food prices and price increases in basic nutrition items peaked.

Although it started to decline after November, the increase in global energy prices in addition to the continuing cumulative reflections also increases inflation.

In its report, the CBRT pointed out that the most significant change for 2020 was in the food and non-alcoholic beverages group, and that the share of this item increased by 3.17 points to 25.94%, while in January, the increase in raw milk purchase prices and the reflection of international agricultural commodity prices He emphasized that inflation has increased.

In its February Hunger and Poverty Limit report, TÜRK İŞ stated that the increase rate in food inflation was 20.44% for the last twelve months, while the increase in dairy products continued in the last month and there was also an increase in red meat and poultry meat. In the Istanbul Livelihood Index report of ITO, it was stated that upward price changes were observed in fats, milk and dairy products, meat, fish and poultry groups.

Food inflation and the increase in the annual inflation rate are expected to continue in February. Inflation, which is expected to come at a rate of 0.70% monthly and 15.50% annually, is expected to remain high until the beginning of summer and to decline as of June due to the seasonal effect. Therefore, February is likely not to be the last month in which inflation was the highest.

Author: Necdet Erginsoy

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