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.

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