Yangi MTP bilan bir raqamli inflyatsiya yo'l xaritasi: dezinflyatsiya jarayoni uzluksiz davom etadi

The Medium Term Program (MTP) for the 2027-2029 period, which draws the three-year road map of the Turkish economy, foresees a determined disinflation process with the aim of ensuring price stability and permanently reducing inflation to single-digit levels. Following the annual consumer inflation rate of 31.51 percent as of August, the aim is to break inflationary expectations and completely eliminate the inertia in the economy during the program.

Strong Coordination in Monetary, Fiscal and Incomes Policies

In the new program period, strong coordination between monetary, fiscal and income policies will be maintained at the highest level in order to increase the effectiveness of the fight against inflation. While total demand conditions will be ensured to follow a balanced path that will not create inflation, this process will also be supported by favorable cost conditions. Mahsulot bozorlarida raqobat sharoitlarini yaxshilash va ta'minot siyosatini kuchaytirish orqali Turkiyaning ishlab chiqarish salohiyati ortadi. It is aimed to permanently increase social welfare by establishing a more equitable structure in income distribution with the decrease in inflation.

In this process, the Central Bank of the Republic of Turkey (CBRT) will continue to use all policy tools at its disposal determinedly and effectively until price stability is permanently established. The principles of inflation targeting and floating exchange rate regime will not be compromised. Valyuta kurslari butunlay talab va taklif muvozanatiga qarab, erkin bozor dinamikasi doirasida shakllanadi. In addition, the Central Bank's communication channels will be further strengthened in order to align inflation expectations with the determined targets.

Structural Transformation and Transparency in Pricing Behaviors

Within the scope of MTP, a radical structural transformation in pricing behavior in the markets is aimed. O'tmishdagi inflyatsiya indeksli narxlash odatlari kelajakdagi inflyatsiya kutilmalariga asoslangan narxlash bilan almashtiriladi. Thus, price rigidities will be prevented and the inertia in inflation will be broken. Jamiyat tomonidan boshqariladigan va yoʻnaltiriladigan narxlar ham inflyatsiya prognozlari va maqsadlariga toʻliq mos ravishda belgilanadi.

Important steps will be taken to increase market transparency and ensure consumer protection. In this regard, public awareness of the "Market Prices" website, which transparently shares instant price changes in chain markets, will be increased. The competitive structure in the market will be supported by making it easier for consumers to make price comparisons.

Production Planning and Food Supply Security in Agriculture

Purchase prices of agricultural products within the scope of combating food inflation; Their impact on public finance will be determined by taking into account market dynamics and MTP targets. In this way, it is aimed to weaken the past inflation indexation behavior in the agricultural sector. The short and long-term supply-demand balance and import-export movements in food and agricultural products will be closely monitored with the early warning approach to be established.

In order to make food supply security permanent, a new planning period is being started in the production of strategic agricultural products. In this planning, the country's sufficiency levels, water constraints and regional production potentials will be taken into account as basic criteria. Thus, both the producer will be protected and the consumer's access to food at affordable prices will be assured.

Gradual Decline Target: Single Digit Inflation in 2029

According to the macroeconomic targets set by the Medium Term Program, a gradual and stable downward trend in inflation is envisaged. The annual increase rate of the consumer price index (CPI) is expected to be 28.4 percent by the end of 2026. The decline is aimed to accelerate in the following years covered by the MTP. Accordingly, the year-end inflation rate is planned to fall to 21 percent in 2027, to 13.5 percent in 2028, and to 9 percent in 2029, the final year of the program.