Turkey's Central Bank cut its year-end inflation forecast for 2019 to 13.9%, down from 14.6% set in its previous report
Turkish Central Bank decreased its food inflation forecast to 15 percent for this year, down from 16 percent in the previous report.
The inflation rate will fluctuate between 11.5 percent and 16.3 percent through the end of this year, Central Bank Governor Murat Uysal said during Inflation Report 2019 presentation meeting held in the capital Ankara. The downward revision is driven by assumptions for lower food prices and Turkish Lira denominated import prices, and lower-than-projected inflation at the second quarter of this year and improvement in the underlying trend, he said.
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