(MENAFN- The Journal Of Turkish Weekly) Inflation to hit 6.8 percent, but drop back to 5.5 percent in 2016, Central Bank Governor Erdem Basci says.
The Turkish economy will grow faster in the rest of this year, Central Bank Governor Erdem Basci said in a speech in Istanbul Thursday.
The weak first quarter was caused by temporary factors, including the harsh winter, Basci said during his speech to announce the bank's quarterly inflation report.
He said that high food prices had limited improvement in inflation in the first quarter.
Food prices rose 3.47 percentage points this year, the governor said, continuing the negative trend from the last quarter.
Basci forecast, however, that food prices would drop later this year.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.