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Minister Bolat: Inflation Falls to 32.95%, Türkiye Maintains 20 Quarters of Growth

Ömer Bolat

Trade Minister Ömer Bolat announced that Türkiye’s annual inflation rate dropped to 32.95% in August 2025, marking the lowest level in 45 months. This comes after a 2.04% monthly increase in CPI (2003=100).

“Annual inflation, which has declined uninterruptedly for 15 months, fell to 32.95% in August—the lowest level in almost four years. Compared to its peak in May 2024, inflation has dropped by 42.5 points,” Bolat said on X.

Stabilization in Markets

Bolat emphasized that the government’s disinflation program is strengthening both price stability and market balance:

  • “Stability and balance in prices and markets continue to strengthen.”

  • “In the coming months, both inflation and financing conditions will improve.”

  • “Positive trends are visible in production, exports, employment, the current account, and confidence indices.”

Economic Growth Holds Strong

Türkiye’s economy expanded 4.8% year-on-year in Q2 2025, recording 20 consecutive quarters of growth. Bolat highlighted that this reflects the country’s resilience and commitment to a balanced and sustainable growth path.

“While advancing in the disinflation process, we are also moving along a path of sustainable growth. Our economy has now shown continuous growth for 20 straight quarters, demonstrating a strong performance.”

Current Account and External Balance

The minister pointed to significant improvements in the current account balance:

  • In Q2 2025, the current account deficit fell to 1.3% of GDP, below historical averages.

  • The improvement is strengthening macroeconomic stability and making the economy more resilient to external shocks.

Domestic Market Oversight

Bolat also noted government efforts to safeguard consumers against unfair practices:

  • Measures have been taken against excessive pricing in domestic trade.

  • Policies to strengthen fair competition and market order are closely monitored.

  • Protecting social welfare remains a central goal of economic policy.

Outlook: Continued Decline in Inflation

Looking forward, Bolat stressed confidence that inflation will keep falling in line with Türkiye’s economic program:

“In the coming period, the decline in annual inflation is expected to continue under the guidance of our policies.”

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