ISTANBUL, Feb. 7 (Xinhua) -- Türkiye's central bank raised its year-end inflation forecast for 2025 to 24 percent from 21 percent, according to its latest inflation report released on Friday.

Central Bank Governor Fatih Karahan presented the report, the first of the year, at the Istanbul Financial Center.

The 2025 forecast was revised upwards, while the 2026 forecast remained steady at 12 percent, the report said.

"The update in the 2025 forecast was primarily influenced by factors outside the direct influence of monetary policy," Karahan said, adding the revision did not signal any easing of monetary policy.

The report highlighted the ongoing disinflation process, which began in June 2024. Annual consumer inflation, which ended 2024 at 44.38 percent, fell to 42.12 percent in January.

"We will continue our firm stance on monetary policy with determination until a permanent decrease in inflation and price stability are achieved," Karahan said.

The report also projected inflation to decline to eight percent in 2027 before eventually reaching the medium-term target of five percent. Enditem

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