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    Goldman Sachs: Turkish lira under pressure

    Inflation poses risk for economy

    Baku. 3 March. REPORT.AZ/ Announced today inflation figures in Turkey puts pressure on lira. Report informs referring to Bloomberg, this was stated in February inflation report in Turkey released by US bank Goldman Sachs.

    The bank says that weak lira and increasing oil prices puts on Turkish economy more intensive pressure than expected. Report reveals that inflation in previous months mostly featured food and energy prices, whereas in February it covers many sectors including nearly all goods.

    Notably, in February consumer price index was up by 0.81%, domestic producer price index by 1.26 in annual comparison. Thus, annual inflation featured 10.13%, domestic producer price inflation – 15.36%. Let’s remind that monthly and annual inflation forecasts were 0.48% and 9.74% respectively. 

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