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29-01-22
Turkey’s Central Bank shifts its year-end inflation prediction for 2022, 2023
(MENAFN) On Thursday, the Turkish Central Bank adjusted its year-end inflation prediction to an optimistic one for the two years, 2022 and 2023 while maintaining its medium-term goal at 5 percent.
According to Central Bank Governor Sahap Kavcioglu statement to a gathering organized to publish the bank’s first three-monthly inflation report of 2022, yearly inflation is estimated to reach 23.2 percent in Turkey by the end of this year, shifted up from 11.8 percent in the last report.
The official also noted that the improved adjustment was controlled by Turkish lira-denominated import costs, food inflation as well as increase in unit labor cost.
Kavcioglu stated that annual inflation prediction for the end of the upcoming year was also shifted to 8.2 percent from 7 percent.
MENAFN29012022000045013568ID1103609248
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