Türkiye’s Treasury and Finance Minister Mehmet Şimşek has stated that the government remains committed to its disinflation program, emphasizing the priority of addressing the livelihood concerns of Turkish citizens.

In a statement on X, Şimşek reported that inflation for December 2024 registered at 1 percent, marking the lowest monthly rate in the last 19 months. The annual inflation rate stood at 44.4 percent, which is 2.4 percentage points higher than the Central Bank's forecasted range from November 2023. Despite this, Şimşek pointed out a significant reduction in inflation compared to the previous two years, with a drop of 20 points since the end of 2023.

Şimşek expressed optimism about the future, predicting, "The decline in inflation will continue. We expect inflation to be realised in line with our inflation target in 2025 with the increasing support from fiscal policy, the decline in the rigidity in services inflation, and the improvement in expectations."

Şimşek expressed confidence in the continued decline of inflation, projecting that it will align with the inflation target in 2025. He attributed this projected decline to the increasing support from fiscal policy, the decline in service inflation rigidity, and the improvement in inflation expectations. (ILKHA)