Inflation in Turkey fell to 71.6% in June, according to official data.
In June, annual inflation in Turkey fell for the first time in several months to 71.6%, official data showed on Wednesday.
Consumer prices have started to weaken after hitting a peak in May at which they rose 75.45 percent.
„The process of disinflation has begun“, „Finance Minister Mehmet Simsek wrote on the network „X“.
Turkey is grappling with a cost-of-living crisis that has prompted President Recep Tayyip Erdogan to stop opposing interest rate hikes to curb inflation.
The central bank began raising the key interest rate in June 2023, raising it gradually from 8.5 percent to 50 percent.
R. "Inflation fever will subside in the coming months," Erdogan said this week.
The rise in consumer prices and the collapse of the Turkish lira are seen as factors responsible for the failure of Mr Erdogan's AKP party in the March municipal elections.
In a message to clients, he predicted much higher tides in July and August, but noted that the road down is likely to be bumpy.
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