Reaching out to his audience via X, economy czar Simsek stated that annual inflation decreased by 2.6 points to 49.4 percent in September compared to the previous month. “While basic goods inflation was at a relatively low level with 28.3 percent annually, it is backward-looking pricing behavior that delays disinflation.” “The rigidity arising from perverse pricing behavior causes a slow decline in services inflation,” he said.
Stating that the disinflation process that started in June is continuing, Şimşek said, “Significant gains against inflation will begin in the second half of next year and will be followed by a stability period in which we will achieve a permanent decrease in inflation to reach single digits. We continue to implement all our policies in coordination and with determination in line with our price stability target.
“Reducing inflation will not only solve the cost of living problem but also permanently increase the welfare of our citizens,” he said.
Turkish press sources
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