Breaking News: First comment on inflation data from Mehmet Şimşek! 'Temporary fluctuations can occur during the disinflation process'

The Turkish Statistical Institute (TÜİK) announced that inflation increased by 2.55 percent in October. On an annual basis, it was calculated at 32.75 percent.

Minister of Treasury and Finance Mehmet Şimşek evaluated the announced inflation figures.

Making a statement on his X account, Şimşek noted the following:

"Annual inflation declined in October, albeit limitedly.

Inflation, which stood at 64 percent and 65 percent at the end of 2022 and 2023 respectively, fell to 44 percent in 2024 and to 32.9 percent in October 2025.

Temporary fluctuations can occur during the disinflation process. Although a slowdown has been observed recently, the general picture has not changed. We anticipate that disinflation will continue thanks to supportive global and domestic conditions.

In line with budget possibilities, the issue of updating taxes and fees for 2026 at a rate lower than the revaluation rate, taking into account inflation targets, is on our agenda.

We are resolutely implementing our policies in line with our goal of permanent price stability, and we are taking structural steps to reduce supply-side pressures on inflation."

Annual inflation declined in October, albeit limitedly.

Inflation, which stood at 64 percent and 65 percent at the end of 2022 and 2023 respectively, fell to 44 percent in 2024 and to 32.9 percent in October 2025.

Temporary fluctuations can occur during the disinflation process. Although a slowdown… pic.twitter.com/wwYTzhTHS0

— Mehmet Simsek (@memetsimsek) November 3, 2025

News Source: 12punto