Türkiye hikes inflation forecasts amid higher food prices, weaker currency

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Türkiye hikes inflation forecasts amid higher food prices, weaker currency

STORY: Türkiye hikes inflation forecasts amid higher food prices, weaker currency SHOOTING TIME: Nov. 2, 2023 DATELINE: Nov. 3, 2023 LENGTH: 00:01:33 LOCATION: Ankara CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in a supermarket 2. various of the press conference of Turkish Central Bank Governor Hafize Gaye Erkan 3. various of people shopping at a fresh vegetable bazaar STORYLINE: Türkiye's central bank on Thursday raised its inflation forecasts for 2023 and 2024, citing higher food and energy prices and a weaker currency. The bank now expects inflation to reach 65 percent by the end of 2023, up from 58 percent in its previous projection. It also increased its forecast for 2024 to 36 percent from 33 percent. Turkish Central Bank Governor Hafize Gaye Erkan said inflation will peak in May 2024 and then start to decline during a press conference, where she presented the bank's last quarterly inflation report of the year. Erkan said the upward revision was mainly due to higher import p

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