Lightning: The Decline in Service Inflation and Improving Inflation Expectations Indicate Significant Progress in Reducing Rigidity

The Minister of Treasury and Finance, Mehmet Şimşek, stated that the decline in service inflation and improving inflation expectations indicate significant progress in reducing rigidities.

Şimşek evaluated the inflation figures released by the Turkish Statistical Institute (TÜİK) on his X account. He noted, "In November, the annual inflation rate was 47.1%, which is a decrease of 28.4 points compared to May. Despite high food inflation in the last two months, the annual goods inflation fell below 40%."

Şimşek continued, "Service inflation was recorded at 1.6% monthly, the lowest level since November 2021, and the downward trend in annual service inflation continued. The decline in service inflation and improving inflation expectations show that we have made significant progress in reducing rigidities."