ANKARA
Turkey’s consumer price index (CPI) increased by 0.14 percent in September 2014, significantly lower than forecasts had previously estimated, according to official data released on Friday.
“A rise (…) was realized in the consumer price index from the previous month, by 0.14 percent,” said the report published by TurkStat on its website.
Estimates by 22 economists, previously surveyed by Anadolu Agency, had established at 0.48 percent, the average increase in consumer prices for September.
Moreover, the annual inflation in September, which was predicted to be 9.23 percent in same survey, was actually 8.86 percent according to the official report.
The inflation figures have been closely observed by markets for months, since the Turkish Central Bank vowed to maintain high interest rates until it noticed clear signs of recovery in the inflation outlook.
Government officials have repeatedly complained that high interest rates were suppressing economic growth in the country.
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