Turkish Central Bank: inflation to drop sharply in 2015

Turkish Central Bank forecasts inflation to drop in 2015, to between 4.6 percent and 7.6 percent.

Turkish Central Bank: inflation to drop sharply in 2015

World Bulletin/News Desk

Turkey's Central Bank on Friday forecast inflation to decline sharply in 2015 from the previous year.

Central Bank Governor Erdem Basci said inflation would reach a mid-point of 8.9 percent in 2014, up from the 7.6 percent forecast in the bank's previous report, and the mid-point of 6.1 percent in 2015. Basci spoke at a news conference announcing the bank's quarterly inflation report in Istanbul.

"In 2015 inflation is forecast to be between 4.6 percent and 7.6 percent," he said.

Basci also said that the inflation rate will average out at 5 percent in the medium term.

Separately, the Consumer Confidence Index dropped 3.7 points, or 4.9 percent in October from the previous month, a change suggesting increased economic pessimism among Turkish citizens, according to a report on the Turkish Statistical Institute website.

 

Last Mod: 31 Ekim 2014, 12:03
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