Inflation message from Minister Şimşek: We have limited the pressure on energy with our steps

Treasury and Finance Minister Mehmet Şimşek made important assessments regarding the May inflation figures announced by the Turkish Statistical Institute in a statement on his social media account. Reminding that inflation in May was 1.7 percent on a monthly basis and 32.6 percent on an annual basis, Minister Şimşek drew attention to the positive developments, especially in the food and services sectors. Stating that weather conditions remaining within seasonal norms reflected positively on food prices, Şimşek noted that thanks to this, food inflation decreased by 0.5 percent monthly.

TREND IN RENT AND EDUCATION REDUCED SERVICES INFLATION

Stating that rule-based pricing in the education sector and the decline in rent inflation reflected positively on macro indicators, Minister Şimşek expressed that annual services inflation showed a significant improvement of 10.1 points compared to the same period last year, falling to 41.1 percent. Touching upon the challenging effects of global and regional risks on economic indicators, Şimşek gave a message of determination regarding the economic management's roadmap for the coming period, saying, "Although geopolitical risks and volatility in energy prices continue to put pressure on the inflation outlook, we have limited these effects with the steps we have taken. We will continue our policies in line with our goal of permanent price stability."

News Source: 12punto