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- October 13, 202617°
- BIST10012,151-0.94%
- USD49.34+0.24%
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- INTEREST37.00%-1.00
- BITCOIN82,695+1.15%
- October 13, 202617°
Vice President Yılmaz: Annual inflation dropped to 31.75% in July
Vice President Cevdet Yılmaz commented on the July inflation data. He said annual inflation fell to 31.75 percent, but geopolitical developments caused a temporary monthly increase.
Vice President Cevdet Yılmaz commented on the July inflation data in a post on his official social media account. Yılmaz stressed that the fight against inflation continues thanks to the determined and comprehensive policies they have implemented.
In July, monthly consumer inflation was 1.78 percent. Annual inflation dropped to 31.75 percent. Annual core goods inflation fell to 16.82 percent.
Yılmaz stated that a temporary monthly increase in inflation occurred in July due to rising oil prices triggered by renewed US-Iran conflicts and administered price adjustments, and also provided information on food inflation. He noted that while monthly inflation for processed food slowed, the increase in fresh fruit and vegetable prices pushed up annual food inflation.
Domestic energy prices, which fell in May and June, rose in July on a monthly basis, led by fuel and electricity prices, also due to geopolitical developments. Core goods inflation saw declines both monthly and annually due to seasonal discounts on clothing and footwear.
Monthly services inflation was driven by price increases in transportation, communication, and health services. However, annual services inflation remained flat, while rental inflation continued to decline on an annual basis.
Yılmaz said they are closely monitoring the impact of geopolitical developments on inflation and taking coordinated measures with relevant institutions to limit it. He emphasized that support continues to mitigate the effects of rising input and financing costs on production and prices.
Yılmaz stated that they support the real sector's access to finance under favorable conditions, and they are working to maintain production capacity and ensure supply continuity.
Finally, Yılmaz said that the economy has maintained its resilience against external shocks thanks to structural steps that boost production capacity, strengthen food and energy supply security, and reduce housing and logistics costs. He added that they will continue supply-side reform steps for lasting price stability.
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