Turkey - Inflation

Inflation tumbles to 20-month low in January

In January, consumer prices rose 1.10% over the previous month, which contrasted December’s 0.44% fall. According to the statistical office, the reading was primarily the result of higher prices for food and non-alcoholic beverages, as well as for alcoholic beverages and tobacco.

Annual inflation dropped from 8.2% in December to 7.2% in January. The print represented a 20-month low, however it came in over market expectations of 6.8%.

The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.63% in January (December: -0.21% month-on-month). Annual core inflation inched down from 9.4% in December to 8.9% in January.

The Central Bank of Turkey (CBRT) sees year-end inflation at 6.1% in 2015. FocusEconomics panelists expect inflation to close 2015 at 7.2%, which is unchanged from last month’s forecast. For 2016, the panel sees inflation moderating to 6.5% by year-end.

Turkey - Inflation Data

2009   2010   2011   2012   2013  
Inflation Rate (CPI, annual variation in %)6.3  8.6  6.5  8.9  7.5  

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Turkey Inflation Chart


Turkey Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Statistical Institute and FocusEconomics calculations.

Turkey Facts

Value Change Date
Bond Yield8.210.37 %Feb 27
Exchange Rate2.510.19 %Feb 27
Stock Market84,148-2.06 %Feb 27

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