Chronic inflation

Japan's consumer prices rose 3.2 percent year-on-year in May, slowing from 3.4 percent in April, government data showed on June 23.

The figure, which excludes volatile fresh food prices, beat market expectations and was higher than the 3.1 percent recorded in March.

Türkiye's Central Bank has kept its inflation projections for end-2023 and end-2024 unchanged at 22.3 percent and 8.8 percent, respectively.

The Central Bank has lifted its end-2022 inflation forecast from a previous 60.4 percent to 65.2 percent.

The bank also increased its estimate for end-2023 from 19.2 percent to 22.3 percent but kept the forecast for 2024 unchanged at 8.8 percent.

Life will continue to become more expensive in the coming months. Inflation is likely to remain high throughout the year. This is what the financier Daniel Donchev predicted on the Bulgarian National Radio.

Bulgaria: 7.8% Annual Inflation in December

Turkey posted a 14.97% annual rise in consumer prices in January, the country's statistical authority announced on Feb. 3. 

The annual figure was up 0.37 percentage points last month, rising from 14.60% in December 2020, according to the Turkish Statistical Institute (TÜİK).

The inflation rate in January 2020 stood at 12.15%, data showed.

The Turkish Central Bank on Dec. 24 announced an interest rate hike of two percentage points, above market expectations.

The bank's policy rate - also known as the one-week repo rate - rose to 17 percent, up from 15 percent, the bank said in a statement.

The International Monetary Fund on Sept. 6 urged Turkish authorities faced with a falling currency and surging inflation to pursue "sound" economic policies to stabilize the situation.

The inflation data in August clearly proved that inflation is not solely caused by food, as we reached the highest core inflation rate in the last 12 years at 10.2 percent. Indeed, this core inflation rate has occurred in a year when the official inflation target is 8 percent.

Turkey's annual inflation rate stood at 10.68 percent in August, revisiting double digits, with price hikes in cars, oil and LPG becoming the driving force, according to figures by the Turkish Statistical Institute (TÜİK) released on Sept. 5. 

When inflation dropped after six months to a single digit at the end of July, it created a festive joy. 

With the August inflation rate to be announced this week, the annual inflation figure is expected to rise to double digits again.