UPDATE 1-Turkish June CPI posts slight rise

ISTANBUL, July 3 (Reuters) - Turkey's consumer prices rose 0.11 percent in June, higher than a forecast unchanged level, but well within the comfort zone for the central bank to cut rates further to help Turkey's recession-struck economy. Turkish Statistics Institute figures on Friday showed the CPI index posted a year-on-year rise of 5.73 percent, and the producer price index rose 0.94 percent on the month, above a forecast rise of 0.14 pct, for an annual fall of 1.86 percent. Turkey's official inflation target is 7.5 percent, but inflation is widely expected to end 2009 below that level due to weak domestic demand and lower commodity prices. Central Bank Deputy Governor Erdem Basci suggested this week the bank could cut rates further, his comments coming a day after official data showed Turkey's... [read full story]                    

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