Turkey will cut inflation rate to 6 to 7pc: Erdogan

Turkish President Tayyip Erdogan said on Saturday Turkey’s inflation rate would fall to 6 or 7 per cent from the current 19-20 per cent but did not clarify how he aims to reach the goal.

Delivering an election campaign speech in the north-eastern city of Rize, Erdogan did not specify a timeline for his anti-inflation plan but appeared to be speaking about the period after local polls on March 31, reports Reuters.

Annual inflation stood just above 20 per cent in January and data on Monday is expected to show a slight decline to 19.9 per cent in February, a poll showed on Thursday.