Consumer prices in Turkey went up in June versus the same month last year, the country’s statistical authority announced Friday.

June’s annual inflation rate was at 12.62% from 11.39% in May, Turkish Statistical Institute (TurkStat) data showed.

A group of 16 economists polled by Anadolu Agency on Tuesday predicted annual inflation would climb to 12.14% in June.

The economists also predicted a 0.70% monthly increase in the consumer price index, with estimates ranging between 0.45% at the lowest and 1.3% at the highest.

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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