Minister of Treasury and Finance Mehmet Şimşek stated that the impact of recent market fluctuations on inflation will remain limited due to tightening financial conditions.

The Turkish Statistical Institute (TÜİK) announced the inflation figures for March. Inflation increased by 2.46% on a monthly basis in March. The annual inflation rate, however, dropped to 38.10%. Minister of Treasury and Finance Mehmet Şimşek made a social media post regarding the inflation figures for March.

“WE EXPECT THE IMPACT OF FLUCTUATIONS TO BE LIMITED” Minister Şimşek pointed out that the annual inflation rate has been decreasing for 10 months. He expressed their expectation that the impact of recent market fluctuations on inflation will remain limited due to tightening financial conditions, stating, “We will continue to use all our policy tools in strong coordination in line with our price stability target.”