Vice President Yılmaz evaluated the inflation data for 2024 on his social media account.
Stating that they would continue to promote the inflation process due to confidence in the economic program, Yılmaz recalled that the monthly increase in consumer prices was 1.03 percent in December.
Stating that at the end of 2024, thanks to the measures they implemented, inflation fell by 20.4 points compared to the previous year and reached 44.4 percent, Yılmaz said: “Since June 2024, when we started the disinflation process, “The annual decline is recorded.” Inflation has reached 31.1 points. Services with high retrospective pricing “The improvement in inflation was evident in the last quarter. The decline in the underlying inflation trend continued in December,” he said.
“Demand conditions have reached levels that support the decline in inflation”
Yılmaz pointed out that they observed a significant improvement in companies' pricing behavior and continued as follows:
The monthly increase in domestic producer prices was 0.4 percent in December, and the annual producer price inflation fell by 29.2 points since the start of the inflation process and by 15.7 points year-on-year, falling to 28.5 percent at the end 2024. The moderate trend in domestic producer prices continues to significantly weaken price increases for basic goods by easing the cost pressure on consumer prices. During the disinflation process, where we aim to balance domestic demand, demand conditions have reached a level that supports the decline in inflation.
Yılmaz stated that the path of inflation expectations is important for the speed of disinflation and that they will further strengthen the disinflation process by accelerating the improvement of inflation expectations with the measures to be implemented in the coming period.
President Yılmaz continued as follows:
We resolutely continue to implement the economic program we are implementing to promote social prosperity, increase economic predictability and achieve a more equitable and effective distribution of resources. Our aim is to reduce inflation to single digits over the life of the program and to ensure stability at this level, with the positive impact of our transparent and predictable policy steps that ensure strong coordination between monetary and fiscal policies. In an environment where inflation is falling and stability is increasing, our main objective is to ensure inclusive growth and lasting social prosperity.
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