When will the inflation rate for May be announced? What is the inflation expectation?
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The civil servant salary calculation table is on the citizens’ agenda. Salaries of civil servants and pensioners become clear according to 6-month inflation data.
In addition, the minimum wage, which affects private sector employees, will indirectly affect civil servants and pensioners. Payments may vary according to seniority compared to employee years. With the announcement of the inflation figures for May and June, the rate of increase will also become clear.
WHEN WILL MAY INFLATION BE ANNOUNCED?
Turkish Statistical Institute (Turkstat), inflation data for the month of May June 5, 2023 Monday at 10:00′will also be announced.
Inflation Research Group (ENAG) calculates its own inflation rate. June 5, 2023 time of day 9.30′will also be announced
INFLATION EXPECTATIONS SURVEY
AA Finans’ expectations survey on inflation data for the month of May, which will be announced by the Turkish Statistical Institute (TUIK) on Monday, June 5, resulted in the participation of 14 economists.
According to the survey, the average of economists’ inflation expectations for May was 0.07 percent. Inflation expectations of the economists surveyed for the month of May were in the range of minus 1 percent at the lowest and 2.4 percent at the highest.
ANNUAL INFLATION WILL DECREASE TO 39.62 PERCENT
According to the average of economists’ May inflation expectations (0.07 percent), it is calculated that annual inflation, which was 43.68 percent in the previous month, will decrease to 39.62 percent.
YEAR-END ESTIMATE 47.32 PERCENT
Economists’ inflation expectations for the end of 2023 rose to 47.32 percent from 46.26 percent in May.
The Consumer Price Index increased by 2.39 percent in April compared to the previous month.
‘NATURAL GAS’ SETTING FROM TURKSTAT TO INFLATION
On the other hand, TURKSTAT announced that the “zero price” method will be applied for natural gas in the calculation of the CPI in May.
In the CPI calculation between June 2023 and May 2024, the discount for natural gas consumption up to 25 cubic meters will be taken into account.
TurkStat stated that this change will strongly reduce May inflation. However, he emphasized that the increase in natural gas consumption will increase inflation towards the end of the year.
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