Inflation would fall, the increases fell on the head of the citizen

End While citizens have been struggling to make a living under rising cost of living and high inflation for 5 years, President Tayyip Erdoğan’s promise to fight inflation and not be crushed by inflation by saying “I am an economist” remained in the air. During the presidential election process, Erdogan’s unforgettable words, “Give him the authority, and then you will see how to deal with this and that with interest”, have broken monthly and annual records in the history of the Republic in terms of inflation. Finally, Erdogan said on the plane upon his return from his visit to Hungary yesterday: “May our citizens rest in peace, our economic staff is competent. As a government that has reduced inflation to single digits in Turkey, they should believe that the AKP cadres will reduce inflation to single digits,” and they continued to promise single-digit inflation.

DOUBLE DISCHARGE FOR 45 MONTHS

Turkey, which registered inflation of 10.35% in January 2018, the year the presidential system came into force, registered annual inflation of 20.30% in December 2018. In inflation, which began to spiral out of control with The rise in the dollar exchange rate in 2018, after the 85.5 percent registered in October 2019, has not seen a single annual digit in the last 45 months. Turkey, which entered 2022 with an inflation rate of 48.69%, marking a return to the 1990s, peaked in October 2022 with an inflation rate of 85.51%. In 2023, when historic elections were held, inflation began to rise again with a rate of 47.83 percent in July 2023, with high tax increases and the exchange rate after the elections with an inflation rate of 39 .59 percent.

We are the leader in Europe

Türkiye Although the latest inflation forecasts announced by the Central Bank of the Republic (CBRT) indicate that people will live with higher inflation for a long time, the year-end inflation forecast has been increased to 58 percent by 2023. If Although inflation of 9.49 percent in July was recorded as the highest July inflation ever, Turkey ranks first in Europe, eighth in the world and second in the G20 with an annual inflation rate of 47.83 percent. Again, CBRT Chairman Hafize Gaye Erkan announced that he had updated his year-end forecast for 2024 to 33 percent and his year-end forecast for 2025 to 15 percent.

What did Erdoğan say?

May 2, 2017

Inflation: 11.72%

With Allah’s permission, we will further reduce inflation.

November 13, 2020

Inflation: 14.03%

Our priority is, of course, to quickly bring inflation to single digits and then to our medium-term program levels.

June 6, 2022

Inflation 78.62%

In fact, in our country today, there is a real cost of living problem, not inflation in the technical sense.