Inflation in Turkey sharply accelerated in June to 15.39% in annual terms from 12.15% in May against the backdrop of rising costs of food and transportation services, official data show. Compared to the previous month, prices increased by 2.61%. Food products rose in annual terms by 18.9%, transportation services - by 24.3%, utilities - by 12%. In April, the Central Bank of Turkey raised its inflation forecast for 2018 to 8.4% from 7.9%. For 2019, the inflation forecast is maintained at 6.5%. In June, the country also recorded a rise in producer prices - by 23.71% in annual terms and by 3.03% compared to May.
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