Basci Given Room to Hold Rates as Turkey’s Inflation Rate Drops
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Turkish consumer price inflation fell to the lowest level since 2013, giving central bank Governor Erdem Basci more room to maintain current interest rates.
The annual inflation rate eased to 7.2 percent from 8.09 percent in May, below the median estimate of 7.75 percent in a Bloomberg survey of analysts. Prices fell 0.51 percent compared with the previous month while the annual increase in food prices declined to 9.28 percent from 12.81 percent through May, Turkey’s statistics bureau said in a statement on its website.