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Turkish Central Bank says inflation expected at 66% by yearend

According to the Turkish Statistical Institute (TUIK), inflation in the country amounted to 84.39% in November compared with 85.51% in the previous month

ANKARA, December 16. /TASS/. Inflation in Turkey is expected at 66.8% by the end of 2022, the country’s Central Bank reported Friday with reference to projections by financial market participants. Earlier, they projected inflation at 68.06%, the regulator noted.

The Turkish Central Bank’s Governor Sahap Kavcioglu said in early December that inflation in the country was expected at 65.2% by the end of this year. Initially the outlook was 42.8%, later revised to 60.4%.

According to the Turkish Statistical Institute (TUIK), inflation in the country amounted to 84.39% in November compared with 85.51% in the previous month. Meanwhile, independent analysts estimated it at 170.7%.

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