World Economy

Turkey Inflation Soars

Turkey Inflation SoarsTurkey Inflation Soars

Annual inflation in Turkey ticked up to 8.17% in 2014, slightly higher than 2013 and well over the central bank’s medium-term target, the state statistics office said Monday. However the figure was lower than expected by analysts, with inflation falling 0.44% in December from November. The central bank had forecast in October the annual inflation of 8.9% in 2014 while the government had predicted 9.4%.