Turkey's annual inflation to fall in April: Survey

ISTANBUL

Turkey’s annual inflation rate is predicted to drop to 10.79% in April, said a panel of economists on Thursday.

The 19 economists polled by Anadolu Agency predicted a fall from March’s yearly rate of 11.86%.

The consumer price index survey ranged between 0.17% at its lowest and 1.4% at its highest — an average 0.72% monthly increase.

Year-end inflation is forecast at 9.03%, which is an average taken from estimates ranging between 7.10% and 10.50%.

The Turkish Statistical Institute is due to release the official inflation figures on May 4.

Turkey’s Central Bank revised its year-end inflation forecast to 7.4% for 2020, down from 8.2% thanks to cut in projections of the output gap and food inflation.

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

Copyright 2022 Anadolu Agency. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.