Update: Turkey Central Bank: May Inflatıon Set To Decrease
Turkey's central bank said Monday that the country's food prices in May will decrease significantlythe country's inflation in May will fall to single-digit figures, the Ihlas News Agency, or IHA, reports
Turkey's central bank said Monday that the country's food prices in May will decrease significantlythe country's inflation in May will fall to single-digit figures, the Ihlas News Agency, or IHA, reports.
In the summary of the minutes of its May rate-setting meeting, the central bank said the country's year-end inflation may be closer to the 6.5% target than the forecast in the bank's latest inflation report.
The central bank's quarterly inflation report released last month showed that the bank expects annual inflation in 2010 to be between 7.2%9.6%, with a mid-point of 8.4%.
The central bank revised up its forecast for oil prices to $85 a barrel from $80 a barrel in 2010to $90 a barrel from $85 a barrel for 2011. It also revised its forecasts for annual food price inflation to 9% from 7% for 2010to 7% from 6% for 2011.
According to the latest data, the Turkish consumer price index rose at a lower-than-expected rate of 0.6% on the month in April, while in annual terms, consumer prices rose 10.19%.
(YC-YC-E-ENG)
In the summary of the minutes of its May rate-setting meeting, the central bank said the country's year-end inflation may be closer to the 6.5% target than the forecast in the bank's latest inflation report.
The central bank's quarterly inflation report released last month showed that the bank expects annual inflation in 2010 to be between 7.2%9.6%, with a mid-point of 8.4%.
The central bank revised up its forecast for oil prices to $85 a barrel from $80 a barrel in 2010to $90 a barrel from $85 a barrel for 2011. It also revised its forecasts for annual food price inflation to 9% from 7% for 2010to 7% from 6% for 2011.
According to the latest data, the Turkish consumer price index rose at a lower-than-expected rate of 0.6% on the month in April, while in annual terms, consumer prices rose 10.19%.
(YC-YC-E-ENG)