Turkish Central Bank: Inflation expected at over 60% this year

Inflation in Turkiye is expected to reach 60.4% this year instead of the previously projected 42.8%, the head of the Central Bank, Sahap Kavcioglu, said.

Report informs, citing Turkish media, that, according to him, the forecast was revised due to global trends - the coronavirus pandemic and the situation in the energy markets.

According to the National Institute of Statistics, the inflation in Turkiye amounted to 78.62% year on year. At the same time, independent experts from the Inflation Analysis Group stated that it amounted to 175.55%.