Turkish central bank raises inflation forecast

Central bank points to high services inflation, food prices and rents as reasons for increase

Photo: CBRT

The Turkish central bank forecasts inflation will fall to 38% by the end of this year, up from an earlier projection of 36%, indicating the stickiness of price growth in the country’s economy.

In its second inflation report this year, the Central Bank of the Republic of Turkey (CBRT) pointed to high services inflation, food prices and rents as reasons for the increase in forecast. It highlighted strong domestic demand in particular as a major driver of inflation.

Governor Fatih Karahan reiterated

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