Turkish Finance Minister Simsek: We will continue policies aligned with our permanent price-stability target
Following Turkey's May inflation release, Finance and Treasury Minister Mehmet Simsek said policies aligned with the country's permanent price-stability goal will continue. Annual inflation came in at 32.61%. Simsek said the disinflation process will continue with discipline.
TRT Haber Ekonomi · TRT HaberTurkish Finance and Treasury Minister Mehmet Simsek issued a statement after the country's statistics agency released May inflation data. Simsek noted that annual consumer inflation rose to 32.61% and that the monthly change was 1.53%. According to TRT Haber, the minister said the disinflation programme will continue to be implemented with determination.
In the statement, Simsek drew attention to stickiness in food and services items and said the tight stance in monetary policy must be supported. Stressing the importance of fiscal discipline, the minister said public spending will be concentrated on prioritised areas. He also signalled that the implementation of structural reform packages would accelerate.
The ministry's calendar foresees a mid-year economic indicators review in the coming weeks. The Central Bank of Turkey's June Monetary Policy Committee meeting will be a key checkpoint for interpreting the data. Analysts say they will closely follow services inflation and exchange rate dynamics to gauge the pace of disinflation.
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