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Turkish inflation at 10.86 pct

Turkish inflation at 10.86 pct
Consumer prices in Turkey rose by 0.92 percent in March from the previous month to reach 10.86 percent on an annual basis, the Turkish Statistics Institute said Tuesday.

Turkish inflation at 10.86 pct in March

Consumer prices in Turkey rose by 0.92 percent in March from the previous month to reach 10.86 percent on an annual basis, the Turkish Statistics Institute said Tuesday.
Producer prices, meanwhile, rose by 0.97 percent from February to March, bringing wholesale inflation for the year to 10.92 percent, the institute said.

Inflation in 2006 was 9.65 percent, nearly double the year-end target of 5.0 percent set in an IMF-backed austerity programme.

Authorities however remain optimistic that the 2007 target of 4.0 percent remains within reach provided tight monetary policies are implemented.

Fighting inflation is a key element in a three-year economic stability programme that Turkey is implementing with the support of a 10-billion-dollar (7.5-billion-euro) loan from the International Monetary Fund.

IMF-backed tight financial policies have helped the government beat inflation targets over the past three years, bringing the rate from 29.7 percent in 2002 to 7.7 percent in 2005.

www.TurkishMaritime.Com.tr

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