Treasury and Finance Minister Mehmet Şimşek said food prices and seasonal factors played a key role in pushing up Türkiye’s monthly inflation figure in January, while stressing that these effects are not expected to derail the broader disinflation trend.

In a post shared on the social media platform Nsosyal, Şimşek said January-specific developments had a noticeable impact on prices, particularly in food-related items. However, he expressed confidence that these temporary factors would have only a limited influence on underlying inflation dynamics.

Şimşek reiterated the government’s firm commitment to its disinflation program, emphasizing that current policies remain firmly on track. He noted that the strategy is being supported by targeted supply-side measures aimed at easing price pressures and strengthening market stability.

According to the latest data released by the Turkish Statistical Institute (TurkStat), consumer prices rose sharply on a monthly basis in January, while the annual inflation rate showed signs of easing compared with previous months. Food and housing costs remained among the main drivers of price increases, highlighting the continued sensitivity of inflation to basic consumption items.

The minister said authorities are closely monitoring inflation developments and will maintain a disciplined policy approach in the coming period. He added that coordination between fiscal, monetary and structural policies remains central to ensuring a sustained decline in inflation and protecting households’ purchasing power.

Government officials have previously indicated that inflation is expected to continue moderating over the medium term, supported by tighter financial conditions, supply-oriented reforms and efforts to reduce cost pressures across key sectors of the economy. (ILKHA)