Turkish Central Bank reveals inflation forecast for this year

The Central Bank of Turkiye has kept its inflation forecast for 2023 unchanged at 22.3% and 8.8% for 2024, head of the regulator Sahap Kavcioglu said, Report informs referring to Turkish media.

“The Central Bank kept its end-2023 inflation forecast unchanged at 22.3%. End-2024 inflation forecast was left unchanged at 8.8%. We will continue to monitor financial stability as a factor supporting ongoing price stability. We will continue to strengthen the monetization strategy and implement it resolutely. Lending growth will be in line with the inflation target to maintain price stability,” he said.

Annual inflation in Turkiye in December 2022 slowed to 64.27% from 84.39% in November. According to official data, housing and utilities (79.83%), as well as soft drinks (77.9%) and transport services (54.5%) rose the most in annual terms.