Nureddin Nebati

Türkiye's inflation rate slowed for a third successive month in January, data from the Turkish Statistical Institute (TÜİK) have shown.

Consumer prices grew at an annual rate of 57.68 percent in January compared to 64.3 percent in December last year, according to the state statistics agency.

The government is prepared for the financial burden of the new retirement scheme and the hike in the wages of civil servants and retirees, Treasury and Finance Minister Nureddin Nebati has said.

The government predicts a gradual descent instead of a hard break in the fight against inflation, Treasury and Finance Minister Nureddin Nebati has said, adding that inflation-related parameters have turned positive.

Turkey's unusual request that its retailers partially freeze prices ahead of elections has prompted some supermarkets and industry groups to warn they could only do so for a short period.

Finance Minister Nureddin Nebati asked clothing and shoe stores to launch their discount season well ahead of usual March after grocers had done the same.

Supermarkets are now able freeze or reduce prices on consumer goods as market conditions  only recently allowed them to do so, Treasury and Finance Minister Nureddin Nebati has said.

Last year saw pandemic-related costs and developments such as elevated oil and natural gas prices, Nebati told daily Hürriyet in an interview.

The head of an umbrella organization of restaurants has called on all eating houses to freeze prices until Ramadan, pointing out the "recent decline in many input prices."

Treasury and Finance Minister Nureddin Nebati has unveiled details of 250 billion Turkish Liras ($13 billion) in financing support to be provided to businesses under the Credit Guarantee Fund (KGF).

The support will be given under 14 packages to a wide range of businesses, including manufacturing companies, women entrepreneurs, exporters, private schools and real estate firms.

The sharp decline in the inflation rate will continue in coming months, Treasury and Finance Minister Nureddin Nebati has said, calling on businesses to support efforts to rein in inflation by freezing and reducing prices.

Mortgages with lower rates and longer maturities will be offered to middle income Turks looking to buy new housing, Turkish Finance Minister Nureddin Nebati said on Wednesday.

Nebati told a news conference the mortgage loans with amount up to 5 million lira ($266,823), will have up to 15 years maturity and rates will start from 0.69%.

The government is preparing to unveil the details of a housing project for middle-income groups.

The project will be announced on Jan. 4 at a press event in Ankara to be attended by Treasury and Finance Minister Nureddin Nebati and Environment Minister Murat Kurum, according to the statement from the Environment and Climate Change Ministry.