Inflation message from Minister Şimşek: 'It will become even more evident in the coming months'

Minister of Treasury and Finance Mehmet Şimşek announced that inflation expectations are declining in line with the Medium-Term Program (OVP) schedule.

Don't leave your news choices to an algorithm - decide for yourself what you read. Add 12punto to your preferred sources! Don't leave your news to an algorithmYou decide which source to read; add 12punto to your preferred sources.

Inflation message from Minister Şimşek: 'It will become even more evident in the coming months'

Minister of Treasury and Finance Mehmet Şimşek made an assessment regarding inflation in a statement he shared on X.

Şimşek stated the following:

"Inflation expectations are converging toward our target.

The year-end inflation expectation has fallen to 43 percent, the 12-month outlook to 30 percent, and the 24-month outlook to 19.3 percent.

Since we announced the OVP, inflation expectations for the 12-month and 24-month periods have declined continuously.

The fact that expectations are improving during this period when realized annual inflation is on the rise demonstrates the belief that our policies aimed at disinflation will be successful.

While we expect an increase in monthly inflation in July due to temporary effects, we anticipate a significant decline in annual inflation.

The disinflation process will become even more evident in the coming months."

Inflation expectations are converging toward our target.

The year-end inflation expectation has fallen to 43 percent, the 12-month outlook to 30 percent, and the 24-month outlook to 19.3 percent.

Since we announced the OVP, inflation expectations for the 12-month and 24-month periods have declined continuously.

The realized annual… pic.twitter.com/mXKv78UwSg
— Mehmet Simsek (@memetsimsek) July 22, 2024