October 31, 2018 / 7:59 AM / 18 days ago

Turkish cenbank revises 2018 food price inflation forecast to 29.5 percent

ISTANBUL, Oct 31 (Reuters) - Turkey’s central bank sharply raised its food price inflation forecast to 29.5 percent in 2018 from 13 percent previously, revising its 2019 forecast to 15 percent from 10 percent, governor Murat Cetinkaya said on Wednesday.

Speaking at the bank’s quarterly inflation briefing, Cetinkaya also said the bank was revising its oil price assumption to $75 from $73 for 2018 and to $80 from $73 for 2019.

Reporting by Ece Toksabay and Ezgi Erkoyun; Writing by Daren Butler; Editing by Dominic Evans

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