All eyes on January 3: Economists' December inflation forecast is in

With the minimum wage now determined, all eyes have turned to the salary increases for retirees and civil servants. The salary hike for civil servants and civil servant retirees will be clarified with the December inflation figures to be announced on January 3. Economists participating in the AA Finance Inflation Expectation Survey estimate that the Consumer Price Index (CPI) will increase by 3.19 percent in December. The Consumer Price Index had shown an increase of 3.28 percent in November.

AA 29 December 2023

The final inflation figures of the year will be announced on Wednesday, January 3.

The expectation survey conducted by AA Finance regarding the December inflation data to be announced by the Turkish Statistical Institute on Wednesday, January 3, was concluded with the participation of 10 economists.

Accordingly, the average of the economists' inflation expectations for December was 3.19 percent. The inflation expectations of the economists participating in the survey for December ranged from a low of 2.90 percent to a high of 3.60 percent.

According to the average of the economists' December inflation expectations, annual inflation, which was 61.98 percent in the previous month, is calculated to rise to 65.19 percent.

On the other hand, the economists' year-end inflation expectation for 2024 was 42.39 percent in December.

The Consumer Price Index had shown an increase of 3.28 percent in November.

Economists' inflation expectations and actual figures by month for 2023 are as follows:

Date	Economists' year-end inflation expectation (Percent)	Monthly Expectation (Percent)	Actual (Percent)
January	44.55	3.66	6.65
February	51.57	3.52	3.15
March	49.56	2.86	2.29
April	46.26	2.65	2.39
May	48.54	0.07	0.04
June	42.07	3.91	3.92
July	61.01	9.07	9.49
August	65.51	7.32	9.09
September	65.50	5.00	4.75
October	68.73	4.08	3.43
November	66.80	3.68	3.28
December	65.19	3.19