The head of Turkish Central Bank forecast on Tuesday the year-end inflation around 6.5 percent.

Erdem Basci said the year-end inflation would most probably be around 6.5 percent in 2012, and put the lowest year-end inflation projection at 5.1 percent and the highest at 7.9 percent.

Basci also forecast the year-end inflation in 2013 around 5.1 percent, with the lowest rate around 3.3 percent and the highest around 6.9 percent.

"We think that inflation will be stabilized around 5 percent in the medium term," Basci told a press conference in Ankara.

Basci also said the bank's priority was to cut down inflation in 2012.

Annual inflation was 6.47 percent in consumer prices and 11.09 percent in producer prices in 2011.

AA