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Turkish Central Bank revises inflation outlook

The bank significantly raised its inflation projections, citing the effects of the war in Ukraine, but inflation was high before the war.
Burak Kara/Getty Images

Turkey’s Central Bank released its outlook on inflation today. 

The Central Bank predicted that inflation will reach 42.8% by the end of 2022, 12.9% by the end of 2023 and 8.2% by the end of 2024. The bank identified the following factors as contributing to inflation:

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