This report on the theme of ‘Urban Transformation and Earthquake Preparation’ was part of the KONDA February’24 Barometer survey and is shared with the public within the legal framework of the contract we have with our subscribers.
February 2025The average value of inflation expectations is higher than the median for annual inflation forecasts (first column), indicating a right-skewed distribution. This implies that the number of respondents with annual inflation expectations below 110% exceeds those with higher expectations. Conversely, for year-end and 12-month forward forecasts, the average and median values are closely aligned, suggesting a more symmetric distribution. The interquartile range (IQR) value (3rd row), which measures the variability of responses among participants, shows the difference in expectations between the 25th and 75th percentiles. Compared to October, the slight increase in IQR values across all three questions suggests a growing divergence in inflation forecasts.
November 2024In October, TEBA inflation expectations continued the downward trend observed in September. The average value of inflation expectations is slightly higher than the median for both annual and yearend inflation forecasts, indicating a right-skewed distribution. In contrast, for 12-month forward inflation projections, the average value equals the median, suggesting a symmetric distribution. The interquartile range (IQR) value (3rd row), which measures the variability of responses among participants, shows the difference in expectations between the 25th and 75th percentiles. The stabilization of this value at relatively low levels indicates an increasing consensus in inflation forecasts.
October 2024The report is published by HDF within the framework of the “Support to Armenia-Turkey Normalisation Process-Rapid Responses” programme, funded by the European Union. It is currently available in English, with Armenian and Turkish versions to become available in the near future.
October 2024In September, TEBA inflation expectations declined across all three indicators compared to the previous month. The survey data suggest that the drop in headline inflation figures has begun to influence household expectations. The change in 12-month forward expectations aligns with the Central Bank of Turkey's (CBRT) sectoral inflation expectations survey. The CBRT survey recorded a decline in household expectations in September, following the increases seen in July and August, with a similar trend observed in the TEBA survey. However, the average expectation level in the TEBA survey remains significantly higher.
September 2024In August, TEBA's annual inflation expectations remained unchanged from the previous month. Yearend and 12-month inflation expectations increased to 101% and 111% respectively. The change in 12-month forward expectations aligns with the Central Bank of Turkey's (CBRT) sectoral inflation expectations survey released in August.3 Over the past two months, a similar rise in household expectations has been noted in the CBRT survey. However, the expectation levels in the TEBA survey remain higher.
August 2024In July, TEBA's annual inflation expectations decreased by two points compared to the previous month, while year-end inflation expectations remained unchanged. Meanwhile, 12-month forward inflation expectations saw a decline of one point. Analyzing the trend of inflation expectations implied by TEBA, the survey results indicate a 20-point decrease from July 2024 to December 2024. However, year-ahead expectations suggests a slight upward trend in inflation during the first half of 2025.
July 2024In June, TEBA's annual and year-end inflation expectations showed a slight uptick compared to the previous month. The peak value of headline inflation in May, combined with the deterioration in economic confidence might have been influential in shaping household inflation expectations this month. The deterioration in overall economic sentiment seems to have halted the decline in TEBA observed in the previous month. TEBA's 12-month inflation expectations, which are released for the first time this month, are slightly higher than the year-end expectations. Analyzing the trend of inflation expectations implied by TEBA, the survey results indicate a 22-point decrease from June 2024 to December 2024. However, year-ahead expectations suggest the reemergence of an upward trend in inflation during the first half of 2025.
July 2024Household annual inflation expectations decreased by 6 points in May compared to the previous month, falling to 113%. Household year-end inflation expectations decreased by 4 points in May compared to the previous month, falling to 92%. Looking at the course of household inflation expectations for the rest of the year, household inflation expectations reflect a 21-point decrease in inflation in the May-December period.
May 2024Household year-end inflation expectations surged from 72% to 97% between January and April 2024, exceeding the rise in actual inflation during the first quarter. The January 2024 figure of 72% trails behind the data in Box 3.1 of the CBRT's Inflation Report for that period. According to the Consumer Trend Survey in the Report, household inflation expectations for the next 12 months were about 80% as of January 2024. Looking at the trajectory of household inflation expectations for the rest of the year, the current annual inflation expectations, standing at approximately 121% as of April 2024, are projected to drop by as much as 24 points to 97% by year-end.
April 2024In the run-up to the general elections, we have subjected the poll results we announced on May 11th to a comprehensive examination of the inaccuracy of the results beyond the margin of error. We called this process BIOPSY. In this study, we questioned everything from method selection to sample design, from field methods to weighting methods.
December 2023The content of the report reflects the opinions and preferences of the people interviewed. Face-toface interviews were carried out in households of select regions during the period 22-24 October 2021. The findings on pandemic practices and time use were compared with the findings of similar research we carried out in May 2020 and April 2018. In this way, we tried to understand the changing practices of society before the pandemic, during the pandemic restrictions and after the pandemic restrictions.
December 2021