ANKARA
On Friday, Türkiye’s Central Bank raised its year-end inflation projections for 2024, 2025, and 2026.
Governor Fatih Karahan, speaking at the release of the bank’s final inflation report for the year, announced the updated forecast: annual consumer inflation is expected to reach 44% in 2024, up from the previous 38%. The 2025 forecast was also raised, now anticipated at 21%, an increase of 7 percentage points.
Karahan stated the bank expects inflation to fall to 12% by 2026, with a long-term goal of stabilizing at 5%. Previously, the 2026 forecast stood at 9%.
Meanwhile, Türkiye’s annual consumer inflation rate fell to a 15-month low of 48.58% in October, according to TurkStat.
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PRESS UPDATE