Turkish June inflation up 0.10 pct on month, 8.95 pct on year

ANKARA - Consumer prices in Turkey rose by 0.10 percent in June from the previous month and by 8.95 percent from a year ago, the State Satistics Institute said Monday.
Producer prices decreased by 0.48 percent in the same period and rose by 4.25 percent over the year, the institute said.
Last year, Turkey beat the 12.0 percent inflation target set in an IMF-backed economic recovery program, reducing chronic inflation to 9.32 percent, the first single-digit figure in decades.
In May, the International Monetary Fund approved a new three-year stand-by deal with Turkey, backed by a 10-billion-dollar loan, which will succeed the previous program that expired in February.
The new program aims to bring inflation down to 8.0 percent this year, 5.0 percent in 2006 and 4.0 percent in 2007.

07/04/2005 14:04 GMT