Mehmet Şimşek makes statement on rental prices
Evaluating the April inflation figures announced by TUIK, Treasury and Finance Minister Mehmet Şimşek also spoke about rental prices.
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The Turkish Statistical Institute (TUIK) has announced the inflation data for the April 2025 period. Accordingly, consumer prices increased by 3 percent compared to the previous month, 13.36 percent compared to December of the previous year, 37.86 percent compared to the same month of the previous year, and 48.73 percent based on 12-month averages. Following the announcement of the inflation data, Minister Şimşek also made a statement.
"WE SEE A HIGH PROBABILITY THAT INFLATION THIS YEAR..."
In his statement, Treasury and Finance Minister Mehmet Şimşek said, "We see a very high probability that inflation this year will remain within the 19-29 percent range, which is our Central Bank's target forecast." Minister Şimşek stated, "We have prioritized the Central Bank's target for inflation. Our only agenda is the fight against the cost of living."
STATEMENT FROM ŞİMŞEK ON RENTAL PRICES
Responding to questions during a live broadcast on TGRT Haber, Minister Şimşek used the following expressions:
"Inflation is currently around 37.9 percent. When you look at core goods inflation, it has dropped significantly, to around 20 percent. Food inflation is around 36 percent. Services inflation remains high, at the 55 percent level.
I believe that, especially in July, since we lifted the 25 percent cap on rents last July, there will be a normalization here. The same applies to education. When you look at the big picture, we foresee that annual inflation will trend downward, falling below the 30s and into the 20s.
There is a significant increase in housing supply. We, of course, prioritized earthquake housing, but we have mobilized significant resources from the budget specifically for urban and on-site transformation.
"OUR MOST IMPORTANT AGENDA IS THE FIGHT AGAINST THE COST OF LIVING"
We remain loyal to the original Central Bank target for prices set by the state. Let's say the target is 24... We generally manage it within that framework or well below it.
Our most important agenda, our most important issue, is the fight against the cost of living."