Turkish inflation is 39 percent in 2000
Consumer prices in Turkey rose by 39 percent in 2000, and wholesale prices climbed by 32.7 percent, the state statistics institute announced on Wednesday. On a monthly basis, consumer prices rose by 2.5 percent in December from the figure for November and wholesale prices by 1.9 percent.
The annual figures constituted a significant drop in Turkey's chronic inflation that stood at 68.8 percent in 1999 and 69.7 percent in 1998. But the government failed to reach its year-end target of 25 percent for consumer prices and 20 percent for wholesale prices, outlined in a stand-by deal with the International Monetary Fund (IMF) in December 1999.
The government has said that it will not revise its targets for 2001 ¯ 12 percent for consumer prices and 10 percent for wholesale prices ¯ and will instead implement tighter economic measures.
Ankara is implementing a comprehensive program of economic reforms under the three-year four billion dollar reform package agreed with the IMF following a severe financial crisis last month. — (AFP, Ankara)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)