Hafize Gaye Erkan's rent confession: 'Istanbul is incredibly expensive, we couldn't find a house, we are staying with my parents'

Central Bank Governor Hafize Gaye Erkan spoke to Hürriyet Newspaper Editor-in-Chief Ahmet Hakan, who is known for his proximity to the government.

Making statements regarding the economic outlook, Erkan stated that they need time for rents to fall behind inflation.

"WE WILL SEE THE SLOWDOWN IN PRICE INCREASES AT THE END OF 2024"

Erkan said, "We will see a slowdown in price increases in service groups such as transportation and food at the end of 2024. It will be a bit slower in groups like rent and education. We will see single-digit figures in inflation in 2026. Our target for the end of 2025 is 14 percent."

Stating that she visits markets frequently and checks the prices of potatoes, red meat, and milk, Erkan said, "We don't eat yogurt bought from outside; we make our own. Sometimes milk prices don't increase in the market, but I see that they have increased in the TUIK statistics. I often ask our building superintendent, Sadık Abi, about prices. I interrogate him. I say, 'They went down.' He says, 'They didn't.' He constantly says, 'Prices didn't go down, go take a look at the price of this onion if you want.'"

"WE COULDN'T FIND A HOUSE IN ISTANBUL, IT IS INCREDIBLY EXPENSIVE"

Making statements regarding the rent problem, Hafize Gaye Erkan said, "There is an increase in rents unique to Turkey. Our President and Vice President are also focusing heavily on this issue. One person should not have 10 houses; 10 people should have one house. Housing and food are very important. Our state solved the health issue a long time ago. Could Istanbul be more expensive than Manhattan? We couldn't find a house in Istanbul. It is incredibly expensive. We moved in with my parents and are staying with them."