Nebati: We are closing inflation below the OVP

Treasury and Finance Minister Nureddin Nebati said on social media, "We have entered a significant downward trend in inflation since November and we are closing 2022 below our Medium Term Program target." Treasury and Finance Minister Nureddin Nebati evaluated December 2022 inflation on his Twitter account. Nebati said the following in his assessment: Consumer inflation, which was 1.18 percent on a monthly basis in December, decreased by 20.12 points to 64.27 percent, while annual CPI inflation decreased by 20.12 points. We have entered a significant downward trend in inflation since November and we are closing 2022 below our Medium Term Program target. In the same period, we see that the domestic producer price index (D-PPI) was realized at a rate of -0.24 percent on a monthly basis and the annual D-PPI decreased by 38.30 points to 97.72 percent. We have successfully left behind 2022, which has witnessed difficult conditions all over the world, thanks to our Turkish Economic Model (TEM) that prioritizes investment, employment, production and export. We have protected the purchasing power of our citizens with the measures we have taken against price increases and the improvements made in wages. All our citizens will feel the cumulative effects of the policies we have implemented against inflation within the framework of TEM more clearly in the coming months. As we prepare our country for the Turkish Century under the leadership of our President, we will continue to implement policies that do not lead to unemployment and shrinkage in our relentless fight against inflation.