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Mehmet Şimşek on inflation: 'We have covered significant ground'

Evaluating the inflation figures announced by TURKSTAT, Minister of Treasury and Finance Mehmet Şimşek commented, "Improving inflation expectations show that we have covered significant ground in reducing rigidities."

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The Turkish Statistical Institute (TURKSTAT), whose reliability has been questioned by the public due to the data it releases, has announced inflation figures for November. 

According to TURKSTAT, monthly inflation in November was announced at 2.24 percent, above expectations. Annual inflation declined to 47.09 percent.

ŞİMŞEK COMMENTS ON INFLATION FIGURES

Minister of Treasury and Finance Mehmet Şimşek evaluated the inflation data announced by TURKSTAT.

In a post on his social media account, Minister Şimşek stated, "Annual inflation in November was 47.1 percent, a decline of 28.4 points since May."

Highlights from Şimşek's statements:

"Despite food inflation remaining high for the last two months, annual goods inflation has fallen below 40 percent.

Services inflation was 1.6 percent monthly, the lowest level since November 2021, and the downward trend in annual services inflation continued.

The decline in services inflation and improving inflation expectations show that we have covered significant ground in reducing rigidities."