Fed storm under! The market is confused…
The first inflation figure for April came from Istanbul. According to inflation figures announced by the Istanbul Chamber of Commerce (ITO), this month broke the inflation record of the past 20 years. The monthly increase brought a record with 11.36 percent. The annual efnalsyn was based on 80%. All eyes will be on the inflation figures to be announced by TUIK on Thursday.
Inflation hit 80% in Istanbul
RECORD MONTHLY INFLATION OVER THE LAST 20 YEARS
According to ITO data, monthly inflation reached 11.36%, the highest annual inflation since 2002. Annual retail price inflation in Istanbul reached 79.97% in April.
INFLATION GAP FOR EXECUTIVES AND RETIRED EXECUTIVES EXCEEDS 25 PER CENT
The difference in inflation for civil servants and civil service pensioners reached 15.3% in March. The final figure will be found by adding the April inflation figure, which will be announced on Thursday May 5, 2022, and then the May and June inflation. Experts estimate that the July increase will approach 35%. Along with the inflation difference, civil servants and retired civil servants will also benefit from a collective bargaining increase of 7% in July.
CIVIL SERVANTS AND PENSIONERS lagging behind inflation
Civil servants and retirees continue to lag behind inflation due to low rates of collective bargaining increases. In the first months of the year, the increases for civil servants who will benefit from a conventional increase of 7.5+7 for 2022 melt and they begin to wait for the difference in inflation. Agent Sen, on the other hand, announced the increase in collective bargaining as a big win. Kamu Sen pointed to the sharp rise in inflation figures and demanded monthly inflation differentials for civil servants.
*Note: According to the expectations of economists, who predict that inflation figures will rise in May and June, the increase of civil servants will exceed 35%.
IF ISTANBUL COMES LIKE INFLATION
If TUIK’s figures match Istanbul’s inflation figures, the inflation difference for civil servants and civil servants will exceed 25%. Inflation from May and June will add to this number and the rise in July will become clear.
AA FINANCE SURVEY: EXPECTED 5.96% INCREASE
Economists participating in the AA Finans inflation expectations survey expect the consumer price index (CPI) to rise 5.96% in April. According to economists’ average April inflation expectations (5.96%), it is calculated that annual inflation, which was 61.14% the previous month, will increase to 67.93%.
AA Finance’s expectation survey of inflation data for April, to be announced by Turkstat on Thursday, May 5, 2022, resulted in the participation of 14 economists.
According to the survey, economists’ average inflation expectations for April were 5.96%. Inflation expectations of economists participating in the April survey were around 4.40% at the low and 7.80% at the high.
ISTANBUL CHAMBER OF COMMERCE APRIL 2022 PRICE INDEXES
Thus, the highest annual inflation since 2002 was recorded.
On a monthly basis, the increase was recorded at 11.36%.
INCREASE IN PRICES OF WHOLESALE GOODS
In April 2022, the Istanbul Employees’ Livelihood Index, which is the indicator of retail price movements in Istanbul, increased by 11.36% compared to the previous month, and the price index prices, which reflects wholesale price movements, increased by 5.33%.
Compared to April 2021, the “rate of change compared to the same month of the previous year”, which shows the price changes during the same period of this year, is 79.97% in the index of livelihoods of salaried workers based on 1995 ITO. and 73.21 percent in the wholesale price index.
TURKSTAT FIGURES ON THURSDAY MAY 5
The Turkish Statistical Institute (TUIK) will announce the inflation figure for April at 10:00 a.m. on Thursday, May 5.
2022 INFLATION FIGURES (TURKSTAT)
MONTH (YEAR 2022) CPI (Consumer price) PPI (Producer price)
JANUARY 11.1 10.45
FEBRUARY 4.81 7.22
MARCH 5.46 9.19
APRIL 5 will be announced on Thursday May 2022
TOTAL 21.28 26.86
Rate of change on a sectoral basis
In April, compared to the previous month in retail prices, 29.82% in clothing expenditure, 23.95% in transport and communication expenditure, 11.49% in food expenditure, 10.19% in housing, 6.65% in other expenses and 4% in household goods 84, culture, education and entertainment expenses increased by 3.02%, and health and personal care expenses increased by 2, 80%.
Compared to the previous month, in wholesale prices, 8.42% in the foodstuffs group, 8.11% in the building materials group, 8% in the fuels and energy materials group, 4.12% in the mines group , 2.94% in the textile group, 2 percent in the chemicals group, there was an increase of 79 and a decrease of 2.05 percent in the raw materials group.