Year-end price forecast down

ISTANBUL

The year-end consumer prices inflation (CPI) figure dropped to 7.47 percent in the first term survey of expectation for June 2012, conducted by the Central Bank. The figure was 7.66 percent in the second term survey for May 2012.

The Central Bank surveys decision makers in financial and real sectors on their macroeconomic and exchange rate expectations twice a month.

Survey participants’ expectations for the year-end current account deficit also dropped, to $64.7 billion from $65.1 billion.

The expectation for the year-end exchange rate rose to 1.8114 Turkish Liras from 1.8016 Turkish Liras against American dollar.