Turkiye's inflation will start downturn: Minister Nebati

“Inflation has reached its highest level. From now on, we will see inflation decline and the effects of this downward trend,” a Turkiye’s English daily said quoting Nebati

The official has also stated that the Turkish economy has proved its strength, as Turkiye achieved the highest growth rate in 2021 as compared to the past 50 years.

“We prioritise investment, employment, production and exports in line with the targets set in the Turkiye economy model,” added Nebati.

Consumer prices grew 3.54 per cent month-on-month (MoM) in October. In the Medium-Term Programme, the Turkish government targets 24.9 per cent inflation next year. Furthermore, the programme estimates that the annual inflation rate will ease to 13.8 per cent in 2024 and further dip to 9.9 per cent in 2025, according to reports from Turkish media.

ALCHEMPro News Desk (DP)