Turkey's inflation rate to rise slightly in Oct: survey

ISTANBUL

Turkey's annual inflation rate is expected to rise slightly in October to 11.76% from 11.75% in September, economists said Thursday.

A group of 17 economists surveyed by Anadolu Agency also predicted that the monthly inflation rate will be 2.01% in October.

The monthly consumer price index survey ranged between 1.21% at its lowest and 2.65% at its highest.

Year-end inflation is forecast at 12.06%, which is an average of estimates ranging between 10.75% and 13.74%.

The Turkish Statistical Institute is due to release the official inflation figures for June on Tuesday.

The government’s year-end inflation target for 2020 is 10.5%, as laid out in the new economic program announced last September.

*Writing and contributions by Gokhan Ergocun