Inflation expectations for first quarter of 2016 are unchanged, says BER
by Staff Writer,
2016-03-17 17:11:50.0
AVERAGE headline consumer price index (CPI) food prices expectations for 2016 and 2017 remained unchanged at 6.2% relative to the fourth quarter of 2015, the Bureau for Economic Research (BER) said in its inflation expectations survey for the first quarter, released on Thursday.
However, the average hid meaningful differences among the social groups, the BER said.
Whereas analysts revised their inflation forecasts significantly upwards, business people and trade union officials lowered their average forecasts for both years since the previous survey.
The average expectations of business people and trade union officials for 2016 declined in the first quarter compared to the fourth quarter, because relatively more respondents expected inflation to be between 4.5% and 5% than between 6% and 6.5%.
One reason some respondents lowered their forecasts was that annual inflation in the previous year dropped to 4.6% (in respect of 2015) in the 2016 first quarter survey, whereas it was still 6.1% (in respect of 2014) in the fourth quarter of 2015 survey, the BER said.
Picture: THINKSTOCK
AVERAGE headline consumer price index (CPI) food prices expectations for 2016 and 2017 remained unchanged at 6.2% relative to the fourth quarter of 2015, the Bureau for Economic Research (BER) said in its inflation expectations survey for the first quarter, released on Thursday.
However, the average hid meaningful differences among the social groups, the BER said.
Whereas analysts revised their inflation forecasts significantly upwards, business people and trade union officials lowered their average forecasts for both years since the previous survey.
The average expectations of business people and trade union officials for 2016 declined in the first quarter compared to the fourth quarter, because relatively more respondents expected inflation to be between 4.5% and 5% than between 6% and 6.5%.
One reason some respondents lowered their forecasts was that annual inflation in the previous year dropped to 4.6% (in respect of 2015) in the 2016 first quarter survey, whereas it was still 6.1% (in respect of 2014) in the fourth quarter of 2015 survey, the BER said.
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