Inflation rises to its maximum in Türkiye in May

Turkish Minister of Treasury and Finance Mehmet Simsek has said that the inflation rate will hit its highest point in June.

He highlighted the significance of inflation data during his presentation at the Justice and Development Party (AK Party)’s Kizilcahamam camp, according to Türkiye Newspaper.

"The inflation rate will hit its highest point this month. We expect a rapid decline in the coming months," Simsek said. 

The Turkish Statistical Institute reports that annual inflation in Türkiye reaches 75.45 per cent while monthly inflation hits 3.37 per cent in May. Following this, a downward trend in inflation is anticipated.

According to sources, Simsek highlighted the importance of the current data, predicting a peak in inflation this month with a subsequent rapid decrease.

"Our fight against inflation will continue uninterrupted," Simsek added.