Turkish Central Bank expects inflation to peak in 2024 at 73-75%

Peak inflation in Türkiye this year will range from 73 to 75%, Report informs referring to the Ekonomim newspaper.

Annual inflation in Türkiye at the end of March, according to official data, accelerated to 68.5% from 67.07% in February, the country’s Statistics Institute (TUIK) reported, while independent experts from the ENAG group estimated it at 124.63%.

Finance Minister Mehmet Simsek previously said that the country’s government expects to achieve price stability and single-digit inflation by 2026.

Inflation will peak at 73% to 75%, 36% at the end of this year, 14% next year and 9% by 2025.