Turkey: Economists expect fall in March inflation

ISTANBUL

Economists polled by Anadolu Agency on Tuesday projected Turkey's inflation rate in March will come in at 11.81%, down from the previous month.

Inflation in February was 12.37%, and the Turkish Statistical Institute (TurkStat) is set to announce March's consumer price index on Friday.

A group of 14 economists said they expect monthly inflation to average 0.53%, with estimates ranging between 0.10% and 1.0%.

Year-end inflation is also projected to reach 9.12%, with the lowest estimate at 7.5% and the highest at 10%.

The government's year-end inflation target is 8.5% for 2020 as laid out in the government’s new economic program announced last September.

Turkey's Central Bank has projected year-end inflation will stand at 8.2%.

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.

*Writing by Aysu Bicer