Turkish C.Bank: food, crude oil prices key in inflation forecast

Turkish Central Bank Governor Yilmaz said that food and crude oil prices became influential in the update of 2010 inflation forecast.

Turkish C.Bank: food, crude oil prices key in inflation forecast


Turkish Central Bank Governor Durmus Yilmaz said on Tuesday that food and crude oil prices became influential in the update of 2010 inflation forecast.

He noted that food prices had 0.4 point and crude oil prices had 0.2 point decreasing effect on 2010 inflation which was predicted to drop.

Central Bank, in its July report, announced that the inflation was predicted to be between 6.5 and 8.5 percent in the end of 2010 with a 70 percent probability.

In its April report, Central Bank was expecting 2010 inflation rate to be between 7.2 and 9.6 percent.

Yilmaz said that food prices strongly dropped in the second quarter of the year, adding that the speed of rise in the prices of services and basic products slowed down too in the same period.

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Last Mod: 27 Temmuz 2010, 15:39
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