Inflation in Turkey

Turkey Inflation | Economic News & Forecasts

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

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)7.7  7.8  11.1  16.3  15.2  

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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 Yield12.00-0.09 %Dec 31
Exchange Rate5.95-0.85 %Jan 01

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