Turkey lifts inflation forecasts for 2018 and 2019
Weaker lira is expected to keep increasing import prices, with inflation currently in double digits
The Central Bank of the Republic of Turkey has revised upwards its inflation forecasts for 2018 and 2019 on high import prices created by a weak lira.
The governor of the CBRT, Murat Çetinkaya, explained the new forecasts today (January 30). Prices are expected to rise by 7.9% in 2018, up from 7% in the inflation report published in October 2017. Prices in 2019 are now expected to rise by 6.5%, up from 6% in the previous forecast.
In both cases, the revision is due to the increase in the
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