Bussiness and financial district of Levent, which comprises of leading Turkish companies' headquarters and popular shopping malls, is seen from the Sapphire Tower in Istanbul, Turkey May 3, 2016. REUTERS/Murad Sezer
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The Turkish government plans to take a more active role in fighting inflation and will attempt to tame volatile food prices, senior economic officials said, moves designed to give the central bank more leeway for monetary easing.The government is now focused on ways to keep a lid on food prices, officials say, or at least lessen their impact on inflation.It will also subsidize the cost of transporting cold food, to help reduce costs from lost products.The government has reformed its food committee as well, in an effort to prevent an "unfair rise" in food price inflation.The government also expects consumer inflation to benefit from a reweighting of food in the inflation basket used by the Turkish Statistical Institute, which releases the monthly data, another senior economic official said.Turkey's medium-term economic program, announced earlier this month, forecast consumer price inflation of 7.5 percent at the end of this year and 6.5 percent in 2017, raising the forecast for next year from a previous 6.0 percent.
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