Minister Şimşek: December inflation is the lowest in the last 19 months.

The Turkish Statistical Institute (TÜİK) announced the inflation figures for December. According to TÜİK data, inflation increased by 1.03% on a monthly basis in December 2024. The year-end inflation rate was realized at 44.38. The six-month inflation was calculated at 15.75%.

The Minister of Treasury and Finance, Mehmet Şimşek, made a statement regarding the inflation figures on his social media account. Şimşek emphasized that the decline in inflation continues.

Şimşek continued his statements as follows:

Solving our citizens' cost of living issues is our top priority. In this regard, we have established the necessary policy framework and continue to implement the disinflation program with determination.

In December, inflation was at its lowest level in the last 19 months at 1%. Annual inflation decreased to 44.4%, which is 2.4 points above the Central Bank's forecast range announced in November 2023. Thus, inflation in 2024 dropped by 20 points compared to the year-end of 2022 and 2023.

The decline in inflation will continue. In addition to the increasing support of fiscal policy, we expect inflation to align with our target in 2025 due to the reduction in rigidity in service inflation and improvements in expectations.