According to data from Insider Paper, citing a report from Agence France-Presse (AFP), the annual inflation rate in Turkey reached a staggering 64.77% in December 2023. The outcomes for 2023 are indeed disheartening, and the prospects for the coming year may not bring much relief. As of now, the annual inflation rate in the country has reached almost 65%. Preliminary estimates suggest that it could soar to 70%-75% by May 2024. Nevertheless, market participants and analysts are hopeful that the situation will stabilize. According to official sources, the annual inflation rate in Turkey increased from 61.98% in November to 64.77% in December 2023. Economists, working under the guidance of Turkish President Recep Tayyip Erdogan, anticipate a reduction in inflation from its current record highs. Specialists believe that such changes may occur in the next four months. Earlier, Mehmet Simsek, the Minister of Finance in Turkey, stated that the government is prepared to halve inflation in 2024 and bring this indicator down to 34%. It is worth noting that from 2021 to June 2023, inflation in Turkey was running within a certain range after Erdogan's reelection. Previously, the annual inflation rate in the country was 38.2%. However, in September 2023, the price increase accelerated to 60%. According to the estimates of the Central Bank of Turkey, inflation in the country reached 65% in 2023, but many experts are confident that this figure exceeded 67%.