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Turkey raises inflation forecasts

The Turkish lira is also again falling close to historically low levels against the US dollar.
Price tags are seen on a market shelf of fresh fruit and vegetables on May 05, 2022, in Istanbul, Turkey.

The Turkish government is predicting higher inflation for the rest of the year. 

The central bank released its Inflation Report for 2022 today. In the report, the financial institution predicted year-end annual inflation will reach 60.4%, up from the previous prediction of 42.8%. 

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