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

The Turkish Statistical Institute (TUIK) announced the inflation figures for March. Inflation rose by 2.46% on a monthly basis in March. The annual inflation rate decreased to 38.10%. Minister of Treasury and Finance Mehmet Şimşek shared a post on social media regarding the inflation figures for March.

“WE EXPECT THE IMPACT OF TURMOIL TO REMAIN LIMITED” Minister Şimşek highlighted that annual inflation has been decreasing for 10 months. Mentioning that they expect the impact of recent market turmoil on inflation to remain limited due to tightening financial conditions, Minister Şimşek stated, “We will continue to use all policy tools in strong coordination in line with our price stability target.”