Mehmet Şimşek evaluates inflation figures: 'Monthly inflation increased, but...'

The Turkish Statistical Institute (TÜİK) has announced the inflation data for January to the public.

According to TÜİK data, January inflation was 5.03 percent, while annual inflation stood at 42.2 percent.

In the data announced by TÜİK, the highest increase was observed in health expenditures. The inflation rate in health peaked at 23.57 percent. In clothing and footwear, which ENAG reported as a record high, there was a decrease of 5.17 percent according to TÜİK. 

Minister of Treasury and Finance Mehmet Şimşekmade evaluations regarding the inflation figures in a post on his X account.

Şimşek's post is as follows:

"In January, annual inflation decreased by 23 points compared to last year, falling to 42.1 percent.

With the policies we are implementing decisively, annual inflation in core goods is at its lowest level in the last 38 months at 24 percent. Service inflation, on the other hand, fell by 27 points compared to last year to 62.9 percent.

Monthly inflation increased due to seasonal effects. However, with the contribution of managed and directed prices, which we determined in line with the inflation target within the budget possibilities, along with other steps of our program, the lowest January figure of the last 4 years was realized.

The decline in inflation will continue with our stance on fiscal policy, the rebalancing in demand, and our supply-side steps."

In January, annual inflation decreased by 23 points compared to last year, falling to 42.1 percent.

With the policies we are implementing decisively, annual inflation in core goods is at its lowest level in the last 38 months at 24 percent. Service inflation, on the other hand, fell by 27 points compared to last year to 62.9 percent.… pic.twitter.com/u6bHryeXUq

— Mehmet Şimşek (@memetsimsek) February 3, 2025