Turkey's headline inflation rate, which reached 18.95 percent in July, will decrease gradually in the rest of the year, President Recep Tayyip Erdoğan has said.
"We will see a contraction in the inflation rate during August," Erdoğan said on a live broadcast of a private channel late on Aug. 4.
Romania's annual inflation rate increased to 3.9 percent this June from 3.8 percent in May, as prices for non-foods advanced 5.71 percent, for food 2.17 percent, and for services 1.59 percent, shows data released on Tuesday by the National Institute of Statistics (INS).
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).
The Turkish Central Bank's reserves amounted to $92 billion at the end of May, according to data released on June 28.
Total reserve assets saw a monthly increase of 4.6%, according to the bank's international reserves and foreign currency liquidity report.
Foreign currency reserves- in convertible foreign currencies- totaled $46.5 billion, up 2.3% on a monthly basis.
Turkey will never deviate from its inflation target for the sake of short-term gains, the country's finance minister said on June 18.
"The fight against inflation is at the center of all our policies," Lütfi Elvan said at a meeting with businessmen in the northwestern province Bursa.
"What matters to us is the sustainability and inclusiveness of growth," he added.
Turkey's Central Bank on June 17 kept its one-week repo rate- also known as the policy rate- steady at 19%, in line with market expectations.
After the committee's sixth Monetary Policy Committee meeting this year, the bank said in a statement that "high levels of inflation expectations continue to pose risks to the pricing behavior and inflation outlook."