Inflation figures for the month of has shown that rise in Consumer prices on President Recep Tayyip Erdogan said on Sunday that it represented a downward trend.
Annual inflation in Turkey rate It rose less than expected pace in May but still jumps to 24-year high of 73.5%, driven by higher food and energy prices.
Talk to members of Erdogan said his ruling Justice and Development Party (AKP) government he was working on Ways to alleviate the economic problems of families and combat Rising prices.
“We never underestimate the problems Our experienced people in their daily life. we are looking for Methods reduce The cost of The burden of living,” Erdogan noted.
and repeated that government He was following the course closely of Prices were placed below the exorbitant highs.
Turkey consumer price The index has since risen last Autumn, as the Turkish lira weakened after the central bank in September embarked on The facilitation cycle of 500 basis points.
Prices have gone up despite tax cuts on basic goods and government subsidies for Water and electricity bills to reduce the burden on family budgets.
The government says Inflation will fall below new economic programwhich prioritizes low interest rates to boost production and exports to achieve a current Account surplus.
In a presentation to members of the Justice and Development Party on Treasury and Finance Minister Noureddine Nabati said, on Saturday, that fight against Inflation is the top priority for Next period.
Nabati stressed the importance of of Enhance coordination and communication in The fight against rising Effective cash rates policya wise approach to public Financial, as well as comprehensive and effective implementation of macroprudential policies.
central bank of Republic of Turkey (CBRT) revised its inflation forecasts for this is year And the next The main reason of The rise in Commodity prices and supply issues.
Presentation by Governor Shihab Kavcioglu in April suggested inflation would peak around 70% before June before dropping to 42.8% by the end of The year.
Center bank It has retained its standard interest rate fixed at 14% in Five meetings this year He said that inflation will start Because of other measures, the so-called rule effect An expected end to the conflict in Ukraine.
Nabati also said that leading Indications showed that economy She maintains a positive outlook in The second quarter of The year.
Strong demand, manufacturing and export helped Turkey post Better than expected 7.3% annual economic growth in The first quarter.
