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Inflation will reach 80 percent in Turkey

Goldman Sachs, one of the world’s largest investment banks, announced that it expects annual inflation in Turkey to decline to 60 percent by the end of 2022, with the base effect, after reaching 80 percent.

inflation in Turkeylast year currency crisis and Russiaof Ukraineincreased due to the increase in energy costs due to the occupation, TurkStat According to the data, it reached 73.5 percent in May.

In the forecast made by Goldman Sachs on Friday, it was stated that this ratio will draw a downward graph after it reaches 80 percent by increasing a little more.

While the Turkish lira depreciated by 44% against the dollar in 2021, the depreciation experienced since the beginning of the year is at the level of 24%.

Goldman Sachs and JP Morgan raised their inflation forecasts for Turkey after the announcement that inflation had exceeded 60 percent on a monthly basis last March. Goldman Sachs experts had forecast inflation to be above 65 percent for most of this year.

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