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Inflation statement from Minister Şimşek: TÜİK's inflation data came in higher than expected

The Turkish Statistical Institute (TÜİK) released the January inflation rate today. Minister of Treasury and Finance Mehmet Şimşek shared a post on his social media account regarding the rise in inflation.

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Minister of Treasury and Finance Mehmet Şimşek shared a post on his social media account regarding the inflation figures announced by TÜİK today.

Minister Şimşek said the following in his post on X:

"While monthly inflation rose to 6.7 percent in January due to temporary effects, annual inflation was 64.9 percent.

We do not expect these effects, which were largely reflected in inflation in January, to affect the underlying trend of inflation.

We anticipate that monthly inflation will fall significantly starting from February and follow a path consistent with our forecast. As for annual inflation, we will see a significant decline in the second half of the year.

Ensuring price stability is our primary priority"