Translation: "Şimşek's inflation statement: The path to price stability requires patience and determination."

The Minister of Treasury and Finance, Mehmet Şimşek, stated that the inflation expectation continues to improve for the 12 months ahead, saying, "The road to price stability requires patience and determination. We continue to meticulously implement our program aimed at ensuring disinflation."

In a post on his social media account, Şimşek evaluated the Market Participants Survey for November announced by the Central Bank of the Republic of Turkey (CBRT).

EMPHASIS ON PATIENCE AND DETERMINATION

Emphasizing that the annual inflation, which was 48.6% in October, is expected to decrease to 27.2% in 12 months according to the mentioned survey, Şimşek noted:

"While the inflation expectation continues to improve for the 12 months ahead, there has been a limited increase in other maturities. The increase in expectations was influenced by the inflation data from the last 2 months. Although there has been significant improvement for a long time, it takes time for expectations to fall below a certain level. The road to price stability requires patience and determination. We continue to meticulously implement our program aimed at ensuring disinflation."