Turkey’s annual inflation rate is projected to rise to 12.14% in June, economists said on Tuesday.

A group of 16 economists polled by Anadolu Agency predicted an increase of 0.75% from May’s yearly rate of 11.39%.

The consumer price index survey ranged between 0.45% at its lowest and 1.3% at its highest – an average monthly increase of 0.70%.

Year-end inflation is forecast at 9.18%, which is an average of estimates ranging between 7.50% and 11.60%.

The Turkish Statistical Institute is due this Friday to release the official inflation figures for June.

The government’s year-end inflation target for 2020 is 8.5%, as laid out in the new economic program announced last September.

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