Mehmet Şimşek calls inflation that came in above expectations 'temporary'

The April inflation data announced by the Turkish Statistical Institute (TÜİK) has been shared with the public.

According to the data, consumer prices rose by 4.18 percent in April compared to the previous month. Annual inflation was calculated at 32.37 percent.

Treasury and Finance Minister Mehmet Şimşek made an assessment following the data, which came in above expectations. Şimşek stated that the increase was of a temporary nature.

Minister Şimşek used the following expressions in his statement on his X account:

"In April, inflation was 4.2 percent monthly and 32.4 percent annually.

Inflation in services improved by 14.3 points compared to the same period last year, reaching 40.3 percent annually, while it was 16.5 percent in core goods.

Although energy and commodity prices, which have increased due to the impact of geopolitical developments, create pressure on the inflation outlook in the short term, we are taking the necessary steps within the framework of budget opportunities to limit these effects.

We assess the rise in inflation as temporary and foresee that disinflation will continue. We will continue to resolutely implement our policies that will increase the welfare of our citizens by ensuring permanent price stability."

News Source: 12punto