Turkish October inflation slows to 8.6 percent

Turkish inflation slowed in October for the first time in three months. The inflation rate fell to 8.6 percent from 9.2 percent in September, the Turkish Statistical Institute said on November 3. Food and clothing prices continued to be inflationary drivers.

The Central Bank has kept the benchmark interest rate unchanged at 7 percent since last November. Inflation is expected to slow in the coming months to a year-end forecast of 7.0 – 7.5 percent. The CBRT continues to indicate no rate increases before the third quarter of 2011.

Source: Hurriyet Daily News

 

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