Babacan: Drop in Inflation is For Good

“We see the same trend in July. This is very pleasing. We could look at these never-seen-before developments as showing how very appropriate and correct our economic policies are for Turkey. And it must be understood that the drop in inflation is for good,” said Babacan. He added that the end-of-the-year consumer prices inflation target was 20 percent, and that there was no reason not to achieve this.

Admitting inflation is generally lower in the summer than at other times, Babacan stressed that the seasonal factor should not be over-estimated. “We are overjoyed that these wonderful developments are taking place during our governing term,” he concluded.

Economy Services / Istanbul / TURKEY