Erdogan: Turkey will reduce inflation to single digits

(Patria) - Turkey's economic program is yielding results in terms of production, employment, and exports, said Turkish President Recep Tayyip Erdogan yesterday in a video message on the occasion of the Kurban Bayram holiday.

- Turkey will achieve good results in terms of inflation from the second half of the year - stated Erdogan, adding that inflation will definitely be reduced to single digits.

Turkey's annual inflation rate reached as high as 75.45 percent in May. The largest price increases were recorded in the education, housing, and restaurant sectors.

Monthly inflation for the previous month was 69.80 percent. Despite the increases, analysts expect a reduction in the inflation rate after May.