The central bank governor, said that inflation will fluctuate between 12.5-14.3 per cent until end of this year.
The Central Bank of Turkey (CBRT) has revised the year-end inflation forecast to 13.4 per cent from 8.4 per cent, according to local newswire Anadolu.
CBRT, also increased its mid-point inflation forecast for the end of 2019 to 9.3 per cent from 6.5 per cent in a report released last April.
Murat Cetinkaya, Governor of CBRT said that inflation is likely to be 13.4 per cent at the end of 2018, 9.3 per cent at the end of 2019 as well as 6.7 per cent at the end of 2020 and it will settle around five per cent in the medium term.
In June, the country's annual inflation increased to 15.39 per cent, up from 12.15 per cent in May.