ANKARA, Aug. 6 (Xinhua) — Turkish Treasury and Finance Minister Mehmet Simsek said Tuesday that the government projects that annual inflation will ease to 40 percent by the end of the year.
“As of now, we believe that the course of inflation is in line with our projections and that we will close the year at 40 percent. Market expectations are slightly below 43 percent,” said Simsek, speaking to the A Haber broadcaster.
The Turkish minister stressed that they believed that 2025 would be the year of disinflation. “Inflation will fall because monetary, fiscal, and income policies have been designed accordingly. We just need time and patience,” he added.
He noted that the annual inflation started to fall in June and added that the fall in July was “quite strong, and this will continue in August.”
Türkiye’s annual inflation eased to 61.78 percent in July, the second consecutive fall in consumer prices, official data showed on Monday.
The inflation rate of Türkiye registered 71.6 percent in June, slowing from 75.45 percent in May, the highest since November 2022.
Türkiye has been struggling with rising inflation and one of the worst cost-of-living crises of its history.
