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FinancialNews


  • 02-11-19

    Turkish Inflation jumps to double digits reaching 12 percent by year end

    (MENAFN) A Reuter's poll showed on Friday, Turkey"s annual inflation is expected to have remained in single digits for a second consecutive month in October to stand at 8.6percent, partly reflecting so-called base effects given high price increases a year ago.

    Inflation surged to more than 25percent in October 2018 in the wake of a currency crisis in which the lira plummeted against the dollar, but it has since declined due to higher interest rates and lagging economic activity.

    In September the consumer price index (CPI) fell to single digits for the first time in more than two years. For October the median estimate in a Reuter"s poll of 20 economists was 8.6percent, with forecasts ranging between 9.5percent and 7.7percent.

    Finance Minister Berat Albayrak said on Thursday inflation may fall to around 8percent in October.

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