Inflation in Turkey hits forecasts

Baku. 3 March. REPORT.AZ/ Turkey's consumer price index (CPI) rose by 0.81 percent in February this year.

Report informs citing Bloomberg, domestic producer price index increased by 1.26% in February. So, annual inflation made 10.13%, domestic production inflation 15.36%. Notably, inflation forecasts made monthly 0.48%, annual 9.74%. The report led to increase in the US-dollar exchange rate in Turkey. However, USD exchange rate made 3.71 TRY/USD in the morning, at present, it reaches 3.75 TRY/USD. Daily increase makes 0.47% currently.

The analytical group of Report News Agency forecasts that US-dollar exchange rate in Turkey will increase to 3.78-3.80 TRY/USD after probability of increasing discount rate of the US Federal Reserve System (FED) and then, down to 3.50-3.55 TRY/USD with decline in inflation in summer months.