Inflation's rate of increase slowing down: Turkish finance minister

By Ovunc Kutlu

ANKARA (AA) - Inflation's rate of increase in Türkiye is slowing down, Treasury and Finance Minister Nureddin Nebati said Friday in a series of tweets.

"Inflation figures announced today reveal that inflation's rate of increase is slowing down," he said.

Nebati noted that the consumer price index (CPI) that increased 7.25% in April on a monthly basis, rose 2.98% in May month-on-month.

He noted that the coronavirus pandemic, supply chain disruptions, and the Russia-Ukraine war caused price spikes in commodity prices, especially in food and energy, which play a significant role in the rising of inflation both in Türkiye and worldwide.

"We expect that rise in our agricultural production will have a positive impact on inflation easing in the coming period," he said.

"Fight against inflation will continue to be our top priority in the coming period. We will never allow our citizens to be overwhelmed with inflation pressure!" he added.