Inflation in Turkey
Turkey - Inflation
Inflation comes in at 28-month high in August
Consumer prices rose at a softer pace of 1.12% in August, down from the 1.80% in July. The print reflected a notable drop in clothing and footwear prices amid seasonal discounts, and a dip in transportation prices, which partly offset a marked rise in food and non-alcoholic beverages, and hotels, cafes and restaurants prices.
Meanwhile, inflation rose to an over two-year high of 19.3% in August, up from July’s 19.0%. Consequently, the trend pointed up as annual average inflation came in at 15.7% in August, up from July’s 15.2%. Lastly, core inflation eased from 17.2% in July to 16.8% in August.
FocusEconomics Consensus Forecast panelists expect inflation to average 16.7% in 2021, which is up 0.4 percentage points from last month’s forecast, and 13.2% in 2022.
Turkey - Inflation Data
|Inflation Rate (CPI, annual variation in %)||7.7||7.8||11.1||16.3||15.2|
5 years of economic forecasts for more than 30 economic indicators.
Turkey Inflation Chart
Source: Statistical Institute and FocusEconomics calculations.
|Bond Yield||12.00||-0.09 %||Dec 31|
|Exchange Rate||5.95||-0.85 %||Jan 01|
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
September 14, 2021
Turkey’s current account deficit continued to narrow at the outset of the third quarter, with the shortfall dropping to USD 0.7 billion in July from USD 2.0 billion in July 2020 (June 2021: USD -1.1 billion).
September 13, 2021
Industrial production grew 8.7% year-on-year in July (June: +24.1% yoy).
September 3, 2021
Consumer prices rose at a softer pace of 1.12% in August, down from the 1.80% in July.
September 1, 2021
The Turkish economy skyrocketed 21.7% year-on-year in the second quarter.
September 1, 2021
The Istanbul Chamber of Industry Turkey Purchasing Managers’ Index (PMI) rose from 54.0 in July to a seven-month high of 54.1 in August.