Economists expect fall in March inflation

ISTANBUL - Anadolu Agency

Economists polled by Anadolu Agency on March 31 projected Turkey's inflation rate in March will come in at 11.81 percent, down from the previous month.

Inflation in February was 12.37 percent, and the Turkish Statistical Institute (TÜİK) is set to announce March's consumer price index on April 3.

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

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

The government's year-end inflation target is 8.5 percent 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 percent.

Over the last decade, annual inflation saw its lowest level at 3.99 percent in March 2011, while it peaked at 25.24 percent in October 2018.