Economists forecast fall in Turkey's June inflation

ISTANBUL

Turkey's annual inflation rate in June is projected to drop to 15.78% in June, down from 18.71% in May, according to an Anadolu Agency survey on Monday.

A group of 15 economists expect a slight rise in monthly inflation of 0.08%, varying between minus 0.24% and 0.45%, according to the survey.

The Turkish Statistical Institute (TurkStat) will announce inflation figures for June on Wednesday.

The survey indicates that economists predict the year-end inflation rate to reach 15.25%, with the lowest estimate at 13%, and the highest at 18%.

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.

As laid out in Turkey's new economic program announced last September, the country's inflation rate target is 15.9% this year, 9.8% next year, and 6% in 2021.

According to an inflation report by Turkey's Central Bank released in April, year-end annual inflation is expected to hit 14.6% in 2019.