Turkey revises inflation forecast downwards
Inflation rates have been dragged down 5.9% in the past year as a result of the sharp contraction in economic activity, said the Central Bank of Turkey's quarterly Inflation Report.
Since its previous report in July, the central bank has revised its inflation forecast for the year down to 5.5%. The report cites a larger than expected downward revision in expected food prices and the large share of food in the consumer price index as reasons for this.
Inflation was recorded at 5.27% last month
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