Mehmet Şimşek's comment on inflation: We are in a transition period

Minister of Treasury and Finance Mehmet Şimşek evaluated the July inflation data and stated that they are going through a process where disinflation and price stability are targeted and that they expect annual inflation to decrease starting from mid-2024. Minister of Treasury and Finance Mehmet Şimşek evaluated the inflation data announced by TÜİK. Minister Şimşek stated in his statement on Twitter that annual inflation in July was in line with market expectations due to the impact of fiscal measures, exchange rate developments and wage increases. Şimşek emphasized that they are going through a process where disinflation and price stability are targeted and said that annual inflation will start to decrease starting from mid-2024 due to the positive impact of the monetary policy stance. Underlining that they will support the disinflation process with fiscal discipline, Mehmet Şimşek stated that the main goal of their policies is to permanently reduce inflation to single digits in the medium term. On the other hand, Minister Şimşek also referred to the recently denied allegations and noted that no claims about practices and policies that he has not heard from should be trusted.