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"The latest encouraging figures, from the automotive to the retail sectors, show economic activity in Turkey nearing pre-crisis levels. The new figures come on the heels of data recently released by the Turkish Statistics Institute (TurkStat) which showed the Turkish economy expanding by 11.7 percent in the first quarter of 2010 over the same period a year ago, an impressive performance. Turkey's annual rate of inflation, released by TurkStat on Monday, also decreased to 8.37 percent as of June. The consumer price index (CPI) dropped by 0.56 percent last month from May, while the producer price index (PPI) also fell by 0.5 percent during the same period, far exceeding market expectations.
