By Kyle Morris

The Turkish central bank said Thursday that it now expects inflation to be at 14.1% at the end of 2021 and 7.8% at the end of 2022.

In April, the bank said it expected inflation at 12.2% at the end of 2021 and 7.5% at the end of 2022.

Inflation should stabilize around 5% --the medium-term target-- in 2023, the bank said in its July inflation report.

Risks to the inflation target include the coronavirus vaccine rollout in the country, the recovery of global demand, rising commodity prices, pent-up consumption and supply constraints, the bank said.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

July 29, 2021 07:25 ET (11:25 GMT)