Ankara: Turkish inflation has dropped below 20 per cent for the first time since August last year, reaching 19.67 per cent in February, official statistics showed on Monday.
Consumer prices had been falling since a 15-year high in October, but inflation rose in January and reached an annual rate of 20.35 per cent from 20.30 per cent in December.
The highest monthly increase was recorded in health, at 2.48 per cent, according to the Turkish statistics office (TUIK).
In January the Turkish central bank cut its 2019 inflation forecast to 14.6 per cent from a previous estimate of 15.2 per cent.
Food prices increased just 0.9 per cent in February after surging 6.4 per cent in January, the drop reflecting Ankara’s push to drive prices down. — AFP
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