Turkish Treasury and Finance Minister Nureddin Nebati said the government is taking steps to address the negative effects of high inflation in the country.
The Institute of Statistics reported on Monday that annual inflation in Turkey accelerated to 78.62 in June from 73.5% in May. The inflation research group, created by scientists and economists, also calculated the increase in consumer prices in Turkey in June: according to its data, annual inflation accelerated to 175.55% from 160.76% a month earlier. According to the group, consumer price growth increased by 8.31% in June.
“Despite the steps we have taken, global commodity prices continue to rise, especially energy and agricultural products. Many measures have been taken, from reducing VAT to subsidies, from regulated/regulated prices, to limit the deterioration of the inflation forecast and reflect the negative effects of inflation on our country, citizens at a minimum level. Necessary measures are being taken,” Nebati said, Türkiye reported.