Cevdet Yılmaz: We carry out our fight against inflation within the framework of a multifaceted policy

Stating that consumer inflation was 2.58 percent in October and annual inflation remained flat at 29.77 percent, Yılmaz stated that the rise in global energy prices due to the impact of geopolitical developments continues to put pressure on domestic prices through production and logistics costs.

Cevdet Yılmaz stated that while the annual inflation in the food group remained flat at 27.7 percent with the rise in fresh fruit and vegetable prices, the annual inflation in the basic goods group was at 16.7 percent with the effect of the rising clothing and shoe prices due to the transition to the new season.

Vice President Yılmaz said:

"As for the services group, while the improvement in rental inflation continued, annual services inflation also continued to decline. We carry out our fight against inflation within the framework of a multifaceted policy, taking into account the pressures that global and regional developments may put on prices, as well as the effects of these uncertainties on economic activity and inflation expectations. We focus on limiting the effects of external fluctuations on our economy and supporting macroeconomic stability by strengthening the coordination between monetary, fiscal and income policies.

In this context, we complement our policies for price stability with structural steps that increase production capacity, improve supply conditions and reduce cost pressures. We aim to create a stronger production and supply structure that will support price stability, especially by improving planning and efficiency in agricultural production, diversifying energy supply, increasing housing supply and improving logistics infrastructure. "In line with our goal of reducing inflation to single-digit levels again, we aim to permanently reflect the gains we will achieve with our policies that increase predictability in our economy and strengthen the foundations of sustainable growth."

Source: TRT Haber Açık RSS (Gündem) (Open Press / Translated Full Text)