Inflation comment from Cevdet Yılmaz: Our target is single-digit levels

Turkish Statistical Institute (TUIK) announced the inflation rates for October today. Accordingly, the change in CPI in October 2026 was 2.58 percent increase compared to the previous month, 27.52 percent increase compared to December of the previous year, 29.77 percent increase compared to the same month of the previous year and 31.23 percent increase compared to the twelve-month averages.

Vice President Cevdet Yılmaz evaluated the CPI data on his social media account. Yılmaz continued his statements by saying, "We continue our determined and holistic policy approach in the fight against inflation, which is the main priority of our economic program."

EMPHASIS ON GLOBAL ENERGY PRICES

Consumer inflation was 2.58 percent in October, and annual inflation remained flat at 29.77 percent. The rise in global energy prices due to the impact of geopolitical developments continues to put pressure on domestic prices through production and logistics costs.

While annual inflation in the food group remained flat at 27.7 percent due to the rise in fresh fruit and vegetable prices, annual inflation in the core goods group was realized at 16.7 percent with the effect of rising clothing and shoe prices due to the transition to the new season. In the services group, while the improvement in rent inflation continued, annual service inflation also continued its decline.

WE FOCUS ON LIMITING THE EFFECTS OF EXTERNAL FLUCTUATIONS

We carry out our fight against inflation within a multifaceted policy framework, taking into account the pressures that global and regional developments may put on prices, as well as the effects of these uncertainties on economic activity and inflation expectations. We focus on limiting the effects of external fluctuations on our economy and supporting macroeconomic stability by strengthening the coordination between monetary, fiscal and income policies.

In this context, we complement our policies for price stability with structural steps that increase production capacity, improve supply conditions and reduce cost pressures. We aim to create a stronger production and supply structure that will support price stability, especially by improving planning and efficiency in agricultural production, diversifying energy supply, increasing housing supply and improving logistics infrastructure.

In line with our goal of reducing inflation to single-digit levels again, we aim to permanently reflect the gains we will achieve through our policies that increase predictability in our economy and strengthen the foundations of sustainable growth, on the purchasing power and living standards of our citizens.