Inflation Statement from Minister Şimşek

Minister of Treasury and Finance Mehmet Şimşek made evaluations about September inflation data on his social media account.

Minister Şimşek said, "Annual inflation fell below 30 percent after 57 months (November 2021). Disinflation is spreading throughout the world, except for transportation."

Minister Şimşek stated that in order to limit the effect of the recently rising oil prices on inflation, the Ecel mobile application was gradually withdrawn for gasoline, after diesel, and added: "Our Central Bank calculates that if there was no war, inflation would be 7 points lower this year."

Minister Şimşek's full statement is as follows:

"Annual inflation fell below 30 percent after 57 months (November 2021). Disinflation is spreading across the board, except for transportation. In September, food inflation decreased by 8.4 points compared to the same period last year, reaching 27.6 percent annually. With the contribution of our rule-based regulations, education inflation decreased by 17.5 points annually, reaching 48.6 percent. Annual rental inflation decreased by 27.8 points compared to the same month last year. It decreased to 41.3. Leading indicators indicate that the decline in rental inflation will continue. We are gradually exiting the Ezel mobile application in gasoline, after the recent rise in oil prices. Our Central Bank calculates that inflation would be 7 points lower this year if there was no war. We continue our policies to increase housing and food supply. In 2027, the decrease in inertia in services inflation and the weakening of the effects of commodity price increases. will contribute to the decline.”