Vice President Cevdet Yılmaz evaluated the inflation figures. Cevdet Yılmaz said that they will continue to fight against inflation until it drops to single digits.
“As a result of the trust in our program, we continue to establish the disinflation process.” Giving the message, Yılmaz continued as follows:
“While consumer prices increased by 2.24 percent in November, annual inflation decreased by 1.5 points compared to October and decreased to 47.09 percent. Thus, the decrease in annual inflation compared to May 2024 reached 28.4 points.
It is seen that the slowdown in services inflation, which started significantly in October, continued in November. Monthly rent inflation decreased in November due to the decrease in the contract renewal rate. We expect the downward trend in rental price increases to continue in the coming period and contribute positively to the decline in services group inflation.
While unprocessed food inflation continued its high course due to temporary supply conditions, a more positive course was observed in monthly non-food consumer inflation. The decline in the main trend of inflation continued in November, while the monthly increases in B and C indices were around 1.5, annual inflation decreased to 45.68 and 47.13, respectively.
The moderate course of domestic producer prices shows that the cost-oriented pressure on consumer prices is gradually easing. The improvement in companies’ pricing behavior reflects positively on consumer inflation.
Increasing confidence in the disinflationary policies implemented contributes to the improvement of inflation expectations along with the decrease in inflation. We are implementing our economic program with determination to advance social welfare, increase predictability in the economy, and achieve a more equitable and effective distribution of resources.
We expect the disinflation process to continue in the coming months. “We will continue our fight against inflation in a multidimensional, coordinated and determined manner until it reaches single digits again.”
