ISTANBUL
Annual inflation rate in Turkey is projected to drop to 8.41% in October, according to an Anadolu Agency survey on Friday.
Turkey’s annual inflation rate in September was 9.26%, dropping to single digits for the first time since July 2017.
The Turkish Statistical Institute (TurkStat) will announce the October’s consumer prices index on Monday.
A group of 14 economists expect monthly inflation to average at 1.87%, varying between 1.02% and 2.21%.
The year-end inflation rate is estimated to reach 12.11%, with the lowest estimate at 11.5%, and the highest at 12.8%.
As laid out in Turkey’s new economic program announced by the government this September, the country’s inflation rate target is 12% for 2019.
Over the last decade, annual inflation saw its lowest level at 3.99% in March 2011, while it peaked at 25.24% in October 2018.
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