Caspian Energy Journal Caspian European Club
Monday, 11 March 2019 11:00

Turkey would end 2019 with better performance, Berat Albayrak

Turkey would end 2019 with better performance, Berat Albayrak

Finance and Treasury Minister of Turkey Berat Albayrak estimated Monday that the downward trend in inflation rate will continue, Caspian Energy News ( reports with reference to the press statement of AK Parti (Justice and Development Party of Turkey).

On Monday, the annual inflation fell to 19.67 percent in February, down slightly from 20.35 percent in January, according to country's statistics authority.

In his official Twitter account, Berat Albayrak said that February figures echoed “the positive outcomes” of measures taken recently.

“Annual inflation in consumer prices fell below the 20 percent threshold after a long time,” he said.

“Particularly, the fall in core inflation - down from 19.02 to 18.12 in February - showed how the downward trend gradually becomes visible,” Albayrak said.

Core inflation means the hike in consumer prices excluding energy, food and non-alcoholic beverages, alcoholic beverages, tobacco, and gold.  Albayrak said the significant drop in producer price index also pointed out that the decline in inflation would proceed robustly.

According to the official figures, domestic producer prices climbed 29.59 percent year-on-year in February, down from January's annual figure of 32.93 percent.

Albayrak also said that Turkey would end 2019 with better performance and reach single digit inflation figures sooner than expected.

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Person in charge of the newsline: Olga Nagiyeva 

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