Turkish inflation forecast to drop for July

By Gokhan Ergocun

ANKARA (AA) - Turkey's annual inflation rate is expected to fall to 9.66 percent for July, a group of economists said Tuesday.

The 22 experts surveyed by Anadolu Agency predicted drop from June’s 10.9 percent yearly rate.

The rate shows a slight 0.03 percent year-on-year rise when comparing July 2017 to July 2016, when inflation stood at 8.79 percent.

The consumer price index survey ranged between a 0.56 percent decrease and a 0.5 percent increase -- an average of a 0.03 percent increase.

Year-end inflation is predicted at 9.52 percent, which is an average taken from estimates ranging between 8.8 percent and 10.5 percent.

The Turkish Statistical Institute is due to release the official inflation figures on Thursday.