Inflation is expected to start following a downward trend in the second half of the year, Reuters quoted finance minister Mehmet Simsek as saying on Wednesday.
The statistics institute TUIK is due to publish national inflation data for March on April 3. The annual inflation rate accelerated to 7.89% in February from 7.75% in January, remaining well above the government’s 2014 target of 5%. The Central Bank said last month that upward risks on the inflation outlook remained important, lagged impact of the exchange pass-through was continuing to exert upside pressures on core inflation. The Bank expects inflation to rise until June.
Simsek separately said that the depreciation of TRY made Turkey more competitive and the country’s real sector’s foreign exchange exposure was manageable and not a source of concern.
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