Türkiye gets ready for peak inflation

Türkiye gets ready for peak inflation

© Photo: Maria Novoselova/Vestnik Kavkaza

Inflation in Türkiye will peak in May and then begin to decline rapidly, the head of the republic announced.

The head of Türkiye warned his compatriots that in the coming days, inflation in the country will reach peak levels and then begin to decline rapidly.

“We expect year-on-year inflation to peak in May, followed by a rapid decline. Starting from the second half of the year, we will enter a period of disinflation,”

– Recep Tayyip Erdoğan said.

Further, the head of state emphasized that, in his opinion, the country’s economy is moving in the right direction. It was also noted that the priority of the republican authorities is to reduce inflation indicators to single digits.

According to the Central Bank of Türkiye, inflation will rise to 75%, previous month it peaked to 69.8%. According to independent economists, in April, inflation in Türkiye reached 124.35%.