Turkish President Recep Tayyip Erdogan said the government expected the country's annual inflation to drop to 30% by the end of 2023.
"We hope that inflation, which has been declining rapidly since the beginning of the year, will fall below 30% by the end of the year. Our aim is to return our country to single-digit inflation rates in 2024," Erdogan said in his address to the nation after a cabinet meeting.
On December 5, the Turkish Statistical Institute said that the annual inflation in Turkey slowed down in November for the first time in 1.5 years, dropping to 84.39% from 85.51% in October. Turkey's consumer price index increased by 2.88% in November, according to statistics.
