Turkish Inflation Expected To Decline Towards Year-End

Turkey's inflation is expected to continue its downward trend towards the end of the year, reports on Thursday said.

Over the past six months, consumer price increases in Turkey have moderated from their peak in October last year, and the government anticipates this trend to persist.

In April, inflation in Turkey eased to an annual rate of 43.68%, nearly halving from its October figure of 85.51%.

The decrease can be attributed to a favourable base effect and the relative stability of the Turkish lira.

Roger Kelly, a regional chief economist at the European Reconstruction and Development Bank (EBRD), stated that if there are no major shocks or significant lira depreciation, he expects inflation in Turkey to slightly decrease by the end of the year.

Although the EBRD does not officially make inflation forecasts for countries, Kelly suggested that the annual consumer price index (CPI) in Turkey could be around 35% by the end of 2023.