Yılmaz: January Inflation Data and Expectations

January Inflation Report: Statement from Yılmaz

Vice President Yılmaz announced on X account that in January, due to wage and price updates and adverse seasonal conditions, the monthly increase in consumer prices occurred at a rate of %4.84. The annual inflation, on the other hand, has decreased to %30.65.

Increase in Food and Service Items

In the January inflation report, food and service items stand out, while Yılmaz stated that the rising prices of fresh vegetables and fruits, particularly due to seasonal supply conditions, played a significant role in the increase in food prices. He also reported that the core goods inflation has maintained a moderate trend on a monthly basis and has decreased to an annual rate of %17.45.

Inflation Combat Strategy

Yılmaz continued: "While seasonal developments have the potential to exert positive or negative effects on inflation in the short term, the main direction and route of our program is to bring our country to single-digit inflation rates. In this regard, we are effectively and coordinately implementing our monetary, fiscal, and revenue policies, and accelerating our structural reforms that support the disinflation process. With demand stabilization, normalization in pricing behaviors, and improvement in expectations, we will continue to support the decrease in inflation through our supply-side policies focused on food, social housing, logistics, energy, and human capital."