- To define inflation, -To determine the factors affecting the increase of inflation, -To train a linear regression model with the identified attributes, -To make predictions with this model, -To determine the accuracy score of this model, -To predict the future of inflation by using the data -To tell the effect of inflation on our lives with concrete examples
Central Bank of the Republic of Turkey and the data used in the project is taken from the Electronic Data Dissemination System Link -> https://evds2.tcmb.gov.tr/index.php?
To understand the reasons of inflation, which is the reason of the excessive cost of life, to learn the factors affecting this and to predict the effect of inflation on the cost of living in the ongoing process.
Inflation is an increase in prices of goods and services. However, the prices of goods and services may increase or decrease over time. Inflation is not only an increase in the price of a particular good or service, but a continuous increase in the general level of prices. In other words, it is not just inflation that increases the prices of some goods or an increase in prices of all goods. For example, the monthly inflation rate of 1 percent indicates that the general level of prices increased by 1 percent compared to the previous month. The fact that the annual inflation rate is 30 percent indicates that the prices have increased by 30 percent on average compared to the previous year, for example, a basket of goods purchased for 200 TL last year can only be purchased for 260 TL this year.
Inflation rates are also very effective on exchange rates as they can directly affect the steps taken by central banks in monetary policies. Because the inflation rate is the leading indicator for the changes to be made by the central banks on interest rates.
- High demand
- Goods and services can not meet the demand
- Reduction of production
- Increase in consumption
- Increased costs
- Reduction of money supply
- Increase in foreign exchange rates
- Growth of foreign trade deficit
It can be solved by taking measures to reduce the demand (interest rate increase etc.) or increase the production.
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