ANKARA, Aug 31 (Reuters) – Turkey’s economy is bouncing back from a pandemic-induced slump with close to 10 percent growth expected this year as manufacturing and consumption soar, but the boom is feeding into – and in turn being eroded by – double-digit inflation. Wall Street bank Citi sees inflation ending the year at 17.5 percent or higher. STANDING ALONEMeanwhile Turkey’s central bank, which holds its next policy meeting on September 23, expects consumer prices to dip to 14 percent by year-end and has downplayed what it calls inflation “volatility”. The government has predicted more than eight percent economic growth this year. Reporting by Nevzat Devrangolu and Jonathan Spicer; editing by John StonestreetIMAGE: Women shop at a local market in Istanbul, Turkey January 12, 2021.

Source: Egypt Independent August 31, 2021 08:15 UTC