Turkey posted a 14.97% annual rise in consumer prices in January, the country’s statistical authority announced on Wednesday.

The annual figure was up 0.37 percentage points last month, rising from 14.60% in December 2020, according to the Turkish Statistical Institute (TurkStat).

On a monthly basis, the consumer price index climbed 1.68% in January.

Economists polled by Anadolu Agency last Friday projected the inflation rate in January to be 14.75%.

Under the new economic program announced by the government last September, Turkey’s inflation rate target for this year is 8%.

The Central Bank’s year-end inflation forecast for 2021 is 9.4%.

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