First comment on inflation data from Mehmet Şimşek: He attributed the monthly increase to 'temporary effects'
Evaluating the July inflation data announced by TÜİK, Treasury and Finance Minister Şimşek attributed the cause of the monthly increase to "temporary effects." Şimşek argued that the decline in inflation would be felt more in the coming period.
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The Turkish Statistical Institute (TÜİK) has announced the inflation figures for July.
According to TÜİK data, the CPI increased by 3.32 percent on a monthly basis and 61.78 percent on an annual basis in July.
FIRST EVALUATION ON INFLATION DATA FROM ŞİMŞEK
The first evaluation came from Treasury and Finance Minister Mehmet Şimşek. Arguing that the increase in July was 'due to temporary effects,' Şimşek claimed that the decline in inflation would be felt more in the coming period.
Here is Şimşek's statement:
"Annual inflation is falling.
Monthly inflation in July increased due to temporary effects. Annual inflation, on the other hand, decreased by 9.8 points compared to June, falling to 61.8 percent.
We continue to receive positive results in every area from our program, whose main goal is disinflation. In the coming period, the decline in inflation will be felt more.
By ensuring price stability, we will permanently increase the welfare of our citizens."