Inflation rose to 15.61% in February

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  Positive expectations for the Turkish economy in 2021 despite Corona and high inflation (Getty)</p><div><p>Announced <a target="_blank" href="https://www.alaraby.co.uk/economy/%D8%A5%D8%B3%D8%B7%D9%86%D8%A8%D9%88%D9%84-%D9%88%D8%A3%D9%86%D8%B7%D8%A7%D9%84%D9%8A%D8%A7-%D8%AA%D8%AA%D8%B5%D8%AF%D8%B1%D8%A7%D9%86-%D8%A7%D9%84%D9%85%D8%AF%D9%86-%D8%A7%D9%84%D8%AA%D8%B1%D9%83%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A8%D9%8A%D8%B9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%84%D8%A3%D8%AC%D8%A7%D9%86%D8%A8" rel="noopener">Turkish Statistics Authority</a>, Height <a target="_blank" href="https://www.alaraby.co.uk/economy/%D8%AA%D8%B1%D9%83%D9%8A%D8%A7-%D8%AA%D8%B9%D9%84%D9%86-%D9%85%D8%A4%D8%B4%D8%B1%D8%A7%D8%AA-%D9%85%D8%B4%D8%AC%D8%B9%D8%A9-%D8%AA%D8%B1%D8%A7%D8%AC%D8%B9-%D8%A7%D9%84%D8%AA%D8%B6%D8%AE%D9%85-%D9%88%D8%A5%D8%B7%D9%84%D8%A7%D9%82-%D9%85%D9%83%D8%AA%D8%A8-%D8%AA%D8%AC%D8%A7%D8%B1%D9%8A-%D9%81%D9%8A-%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D8%A7" rel="noopener">Consumer Price Index</a> In Turkey, during last February, 0.91%, bringing inflation to 15.61% on an annual basis.

Today, Wednesday, according to the Anatolia Agency, the authority stated that, given the average of the 12 months during the past year, consumer prices rose by 12.81%, and so did the prices of local producers by 15.14%.

It indicated that the consumer price index in February rose 12.6% compared to last December, and 15.61% compared to the same month in 2020.

In addition, the producer price index rose 3.93% compared to last December, and 27.09% compared to February 2020.

Moody’s tribute

For its part, the international agency “Moody’s” praised the change in monetary policies in Turkey, which led to the strengthening of the local currency and the flow of capital, considering it “a positive factor in its credit rating.”

The central administration of Moody’s in London said, in a statement to Anadolu Agency, on Wednesday: “The change of monetary policy from last November until today has led to the strengthening of the currency, the renewal of capital inflows and the cessation of the decline in foreign exchange reserves.”

“The above is considered a positive factor in Turkey’s credit rating. We need to see that a more coherent policy is maintained,” she added.

She stated that achieving stronger global growth and entering a summer that receives foreign tourists will have a supportive effect on the Turkish economy, as well as the positive effect of reducing political tension with the United States and Europe.

On February 24, Moody’s, the credit rating agency, raised its forecast for the growth of the Turkish economy from 3.5 to 4% this year, and from 4 to 5% in 2022.

At the end of last February, Fitch amended Turkey’s outlook from negative to stable, “due to the presence of more coherent and conservative policies under a new Turkish financial and monetary leadership.”

(Anatolia, the new Arab)





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