| Poll: 2010 expected inflation sees minor increase |
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09/09/2010 11:46 (520 Day 12:21 minutes ago) | |||||
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The FINANCIAL -- Turkey. The annual expected rate of inflation grew from 7.34 percent to 7.5 percent in September, said the Central Bank of Turkey, according to Today's Zaman.
The Turkish Central Bank announced the results of the bimonthly inflation poll it conducts with decision makers as well as experts on Turkey’s economy. According to its latest data, the expected consumer price increase for this month grew from 0.23 percent to 0.69 percent. Whereas the expectation of an average price hike for consumer goods in October increased, leading economic actors anticipate a lower inflation rate for November. All in all, the expected inflation rate by the end of this year grew from 7.34 percent to 7.5 percent. However, for the 12 consecutive months starting from September, the expected consumer price increase dropped from 7.19 percent to 7.11 percent.
The expected current account deficit (CAD) by the end of this year increased to $33.7 billion, up from the $32.9 billion expected according to a second poll past month. According to the Turkish Statistics Institute (TurkStat), Turkey’s CAD was recorded at $34.9 billion for the first seven months of this year. The Turkish Central Bank’s poll therefore suggests that leading economic stakeholders expect Turkey’s exports to exceed its imports for the September-December period. The expected rate of growth, on the other hand, was found to be 5.5 percent for 2010. Turkey grew by 11.7 percent in the first quarter of this year. Government authorities anticipate an annual growth rate of over 6 percent for 2010.
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