Minister Şimşek: The predicted decline in energy and commodity prices will support the decline in inflation

Minister of Treasury and Finance Mehmet Şimşek evaluated the October inflation data in his post on his NSosyal account.

Pointing out that annual consumer inflation decreased by 3.1 points to 29.8 percent in October compared to the same month of the previous year, Şimşek stated that the decrease in inflation spread across the board, excluding transportation services and energy.

Şimşek pointed out that during this period, annual inflation decreased by 7.1 points in food, 2.5 points in energy and non-food goods, and 7.9 points in services, and said:

"However, rising energy prices due to the effect of the war limited disinflation by increasing energy inflation by 16.7 points. In the coming period, the balanced course of economic activity, the anticipated decline in energy and commodity prices, improvement in expectations and the decrease in inertia in services inflation will support the decline in inflation. At the same time, while accelerating our supply-side policies in food, housing and energy, we will strengthen the compliance of managed prices with inflation targets within budget possibilities."