Turkish Treasury and Finance Minister Mehmet Şimşek:

We saw the highest level of annual inflation this month, which includes the cumulative effects of the past 12 months. Thus, the transition period in the fight against inflation is completed and we are entering the disinflation process.

The permanent decline in inflation will begin in June. Annual inflation will most likely fall below 50 percent by the end of the third quarter.

The market predicts disinflation and expects annual inflation to be 33.2 percent after 12 months and 21.3 percent after 24 months.

Achieving price stability requires patience and time, and we are determined to achieve our goal.