Turkey annual inflation rate climbs to 15.61 percent

Turkey posted a 15.61% annual rise in consumer prices in February, the country’s statistical authority announced on Wednesday.

The annual figure increased by 0.64 percentage points last month, rising from 14.97% in January, according to the Turkish Statistical Institute (TurkStat).

Month-on-month, the consumer price index climbed by 0.91% in February.

Economists polled by Anadolu Agency last week projected the inflation rate in February to be 15.45%.

Under the new economic program announced by the government last September, Turkey’s inflation rate target for this year is 8%.

The Central Bank’s year-end inflation forecast for 2021 is 9.4%.