In a statement issued Monday, the Central Bank said it was expected that inflation would remain high in the short term, but would start to recede in the last few months of the year.
On Friday, the Turkish Statistics Institute released figures showing that the consumer price index rose by 1.68 percent in April, taking year on year price increases to 9.66 percent.
The rise in wholesale prices was even more market, with a 4.50 percent increase in the production price index for the month, taking the annualized wholesale inflation rate to 14.56 percent.
According to the Central Bank, inflation had been fuelled by the delayed impact of exchange rate fluctuations and the secondary effects of supply shocks.
