Minister of Treasury and Finance Mehmet Şimşek: We will reach single digits in inflation in the second half of 2025.

The Turkish Statistical Institute announced the inflation data for September. The data indicated that annual inflation has fallen below 50%. Thus, for the first time in three years, annual inflation has dropped below the policy interest rate. Minister of Treasury and Finance Mehmet Şimşek made a noteworthy assessment regarding the inflation data.

"RETROSPECTIVE PRICING BEHAVIOR..."

In his statement, Minister Şimşek said, "In September, annual inflation decreased by 2.6 points compared to the previous month, falling to 49.4%. While core goods inflation is relatively low at an annual rate of 28.3%, the rigidity caused by retrospective pricing behavior is slowing down the decrease in service inflation."

HE GAVE A TIMELINE FOR SINGLE-DIGIT INFLATION

Pointing to the second half of 2025 for single-digit inflation, Minister Şimşek stated, "The disinflation process that started in June continues. This period will be followed by a stability period that will begin in the second half of next year, ensuring a permanent decrease in inflation and reaching single digits. We continue to implement all our policies in coordination and decisively in line with our price stability target. Reducing inflation will not only solve the cost of living issue but will also permanently increase the welfare of our citizens," he added.

Minister Şimşek's post;