Mehmet Şimşek's statement on inflation: Monthly increases have weakened significantly

The Turkish Statistical Institute (TÜİK) has announced the inflation data for November. 

Accordingly, the Consumer Price Index (CPI) showed an annual increase of 61.98 percent and a monthly increase of 3.28 percent.

Minister of Treasury and Finance Mehmet Şimşek evaluated the November inflation figures announced by TÜİK.

Stating that the decline in core inflation, which continued in November, is encouraging, Şimşek said, "This points to a significant loss of momentum in inflation. Annualized core inflation is in line with our targets."

Şimşek added, "The fight against inflation is a process; we are implementing our program with determination, and we will succeed."

According to the data shared by Şimşek, core inflation fell to 1.96 percent in November, after being 5.28 percent in September and 3.72 percent in October.

The decline in core inflation, which continued in November, is encouraging.

Monthly increases in the C index have weakened significantly:
September 5.28%
October 3.72%
November 1.96%

This points to a significant loss of momentum in inflation.

Annualized core inflation is in line with our targets…

— Mehmet Simsek (@memetsimsek) December 4, 2023

News Source: 12punto