Turkey sanguine on inflation
The Central Bank of Turkey published its 2010-11 inflation report on Thursday showing inflation rose by three percentage points to 9.56 % during the first quarter of 2010.
According to the report, the rise in inflation was largely attributed to the January tax hikes in fuel, alcoholic beverages and tobacco products.
Inflation was more pronounced during the final quarter of 2009, but weak domestic demand and falling commodity prices meant price levels were remarkably low going into 2010
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