Turkish Central Bank Raises Inflation Expectation to 14.1% at End of 2021

The Turkish central bank said Thursday that it now expects inflation to be at 14.1% at the end of 2021 and 7.8% at the end of 2022.

In April, the bank said it expected inflation at 12.2% at the end of 2021 and 7.5% at the end of 2022.

Inflation should stabilize around 5% --the medium-term target-- in 2023, the bank said in its July inflation report.

Risks to the inflation target include the coronavirus vaccine rollout in the country, the recovery of global demand, rising commodity prices, pent-up consumption and supply constraints, the bank said.

Write to Kyle Morris at kyle.morris@dowjones.com

  (END) Dow Jones Newswires
  07-29-21 0725ET
  Copyright (c) 2021 Dow Jones & Company, Inc.

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.