Turkish Finance Ministry: Peak of annual inflation expected in May

Inflation in Türkiye is expected to peak in May, then it will begin to decline, Turkish Finance Minister Mehmet Şimşek said, Report informs via TRT.

According to the forecasts of the minister, the peak of annual inflation will occur in May and will exceed 70 percent.

“This month the consumer price index will exceed 70 percent. However, as a result of the reforms developed by the Turkish authorities, the rate of price growth will begin to decline rapidly, and by 2026 inflation will drop to single digits,” the minister said.

In April, the annual inflation in Türkiye reached almost 70 percent.