Following TÜİK and ENAG, Minister Şimşek sends 'disinflation' message: 'We anticipate it will fall within the forecast range'

TÜİK has announced the inflation rates for August. The Consumer Price Index (CPI) increased by 51.97% annually and 2.47% monthly. According to ENAG, the Consumer Price Index (E-CPI) increased by 3.47% in August. The 12-month increase in the E-CPI was recorded at 90.35%. The 12-month increase in the E-CPI was recorded at 90.35%.

EMPHASIS ON YEAR-END TARGET

Treasury and Finance Minister Mehmet Şimşek shared the following statements regarding inflation on X:

Disinflation is becoming evident. Annual inflation has declined by 23.5 points in the last 3 months, reaching 52 percent.

With the effect of temporary factors, monthly inflation was 2.5 percent in August, and 1.4 percent excluding managed-directed prices. Monthly food inflation became negative for the first time in 4 years.

With the effect of strengthening financial stability, rebalancing in the economy, and improvement in expectations, we expect a decline in the main trend of monthly inflation in the last quarter. Thus, we anticipate that inflation will fall within the forecast range by the end of the year.

Our determination to reach the program targets is clear. In an environment of falling inflation, financial stability, and balanced growth, it is important for our private sector to focus on productivity, innovation, and high value-added production while improving cost and inventory management.

Dezenflasyon belirginleşiyor. Yıllık enflasyon son 3 ayda 23,5 puan gerileyerek yüzde 52 gerçekleşti.

Geçici unsurların da etkisiyle aylık enflasyon ağustosta yüzde 2,5, yönetilen-yönlendirilen fiyatlar hariç ise yüzde 1,4 gerçekleşti. Aylık gıda enflasyonu 4 yıl sonra negatif… pic.twitter.com/qUa5qeikrS

— Mehmet Simsek (@memetsimsek) September 3, 2024

News Source: 12punto