Cevdet Yılmaz: inflation is decreasing, “exact figures will be announced”

On November 3, 2025, Turkey’s Vice President Cevdet Yılmaz stated that inflation in the country is gradually declining and that “exact figures will be announced.” He cited estimates for inflation reduction in recent years and outlined targets for the coming periods.

Yılmaz said that inflation in 2024 amounted to 44%, and in 2025 it is expected to be around 30%. The goal for 2026 is to bring the figure below 20%, and for 2027 — to return inflation to single-digit levels.

According to him, the anti-inflation strategy is based on three pillars: monetary policy, fiscal policy, and structural reforms. Despite spending $90 billion related to the consequences of the earthquake, the government maintains fiscal discipline.

Yılmaz noted that declines are already being observed in basic goods, while the services sector lags behind, particularly in rent and education. Food prices are affected by droughts and frost, as well as speculative factors. A cycle of interest rate cuts has begun and will continue; he expects that by mid-next year, inflation and interest rate issues will play a smaller role in the agenda.