Annual inflation rate at 17.53 pct in June

Turkey posted a 17.53 percent annual hike in consumer prices in June, the country's statistical authority said on July 5.

Annual inflation rose 0.94 percentage points last month, up from 16.59 percent in May, according to the Turkish Statistical Institute (TÜİK).

A group of 18 economists projected an average annual rise of 16.97 percent in consumer prices this June, according to an Anadolu Agency survey on Friday.

On a monthly basis, the consumer price index saw a hike of 1.94 percent in June.

The economists had forecast monthly inflation for June to average at 1.46 percent, the survey revealed.

The annual inflation rate in June 2020 was 12.62 percent.

The Turkish Central Bank's year-end inflation forecast for this year stands at 12.2 percent, while the government targets an 8 percent inflation rate under its new economic program.

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