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03 Apr 2019, Gergana Bencheva, EMIS Editor

Turkey’s consumer prices expected to grow 19.43% y/y in March

Turkey is expected to see its consumer prices jump by 19.43% year-on-year for March, Hurriyet Daily News reported. In comparison, Ankara’s annual inflation for February stood at 19.67%.

According to economists, the average annual inflation for 2019 would reach about 15.70%. Following Ankara’s new economic programme announced in the autumn of 2018, the government’s inflation target for this year is 15.9%. The target for 2020 is fixed at 9.8% and at 6.0% for 2021.

In the following days, Turkey’s cabinet is expected to announce new economic reforms in an attempt to further strengthen its financial ecosystem. Over the last ten years, Turkey’s annual inflation hit its lowest level at 3.99% in March 2011. Its highest reach was in October 2018 when it stood at 25.24%, Hurriyet Daily News noted.

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