Vice President of Turkey, Cevdet Yılmaz: “Turkey Enters Period of Declining Inflation”
Turkey’s Vice President, Cevdet Yılmaz, announced that the country has entered a period of declining inflation. According to Yılmaz, the Consumer Price Index (CPI) in June increased by only 1.64%, falling short of market expectations. This slowdown indicates a deceleration in the monthly inflation rate, bringing the annual inflation rate down by 3.8 points to 71.60% compared to the previous month.
Yılmaz pointed out that the decline in core inflation indicators, which reflect the main trend of inflation, also shows weakening price increases. He emphasized that reducing inflation is a common desire among citizens from all walks of life and is a fundamental goal.
The Vice President stated, “With the decline in inflation, economic predictability will be ensured, and income distribution will improve positively.” He also mentioned that monetary and fiscal policies implemented in the fight against inflation have been effective in entering a disinflationary period.
Continuing his statement, Yılmaz said, “In our fight against inflation, supported by structural reforms, we will also continue to monitor our growth, employment, and export targets.” He expressed the expectation that the decline in inflation would accelerate in the second half of the year, with an aim to reduce the inflation rate to single digits by 2026.
Source: Statements by Cevdet Yılmaz.