Turkish inflation slower than expected

ANKARA - Hürriyet Daily News

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Turkey's inflation for October increased 6.37 percent compared with the same month a year earlier, falling below market expectations.

The 12 month inflation rate amounted to 9.26 percent, official data released today by TÜİK showed.

This was in line with the government’s expectation for a slowdown in inflation by the year’s end. However, it is not clear whether this will help the government meet its 2012 target of around 7.4 percent.

The year-on-year figure stood at 7.68 percent in September.