While annual inflation in Turkey was determined as 64.27 percent in consumer prices, it was measured as 97.72 percent in domestic producer prices.
Inflation was measured as 1.18 percent in December and became 64.27 percent annually in 2022. This figure was recorded as the lowest level in the last 9 months.
The Price Stability Committee continues its efforts to reduce inflation and focuses on market prices. The Inflation Fighting Teams continue their inspections on many sectors without interruption, and in this context, it has declared many times that anyone who tries to turn the different inflationary environment into opportunism will never be allowed.
The principles of combating inflation with the latest decisions taken by the CBRT are as follows:
Principle of reducing inflation Ensuring a sustainable fiscal balance, Realizing a more equitable and efficient distribution of resources, Increasing the growth potential of the economy. Other objectives of the program can be listed as follows: To reduce the risk premium on interest rates, To change expectations, To create a credible anti-inflation program, To make the balance of payments sustainable. All these aims and objectives envisage raising the living standard and quality of Turkish people. The success of this program in achieving these goals depends on making some policy changes. The primary budget balance will go from negative to positive in line with the long-term fiscal balance in the first year and will remain at a high level until price stability is achieved in the economy. Thus, everyone from the investor to the public will notice the improvement in the market visibly.
