Turkyish inflation tracks central bank path

Pragmatic approach: Erkan at a budget conference in Ankara. Under the governor, appointed in June, the central bank has looked to repair credibility with the financial markets, in part by issuing more realistic forecasts for inflation. — AFP

ISTANBUL: Turkyish inflation probably converged on a forecast laid out by the central bank, ending the year with an upswing that keeps it on track to accelerate past 70% by May as new risks emerge.

With costs on the rise in the services industry, data due will show annual price growth quickened to almost 65% in December from 62% the previous month, according to a median forecast in a Bloomberg poll of economists.