Turkey’s annual inflation in December eased less than the central bank had forecast, as policymakers have begun to prepare the ground for a softer stance in the new year.

Annual consumer price growth slowed to 45.2% in December from 47.1% in the previous month, according to the median forecast in a Bloomberg survey of analysts.

The data are due out Friday. The central bank earlier raised its year-end estimate to 44% from 38% in November.

The central bank has sought in 2024 to boost demand and control inflation expectations by raising borrowing costs to 50%.