Turkey - Inflation

Inflation tumbles to 10-month low in December

In December, consumer prices fell 0.44% over the previous month, which contrasted the 0.18% rise recorded in November. According to the statistical office, the reading was primarily the result of lower prices for clothing and footwear as well as for transportation.

Annual inflation dropped from 9.2% in November to 8.2% in December. The print came in under market expectations of 8.9% and represented a 10-month low.

The core inflation index, which excludes more volatile categories such as unprocessed food and energy, declined 0.21% in December over the previous month (November: +0.58% month-on-month). Annual core inflation inched down from 9.5% in November to 9.4% in December.

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 Yield7.072.91 %Jan 29
Exchange Rate2.421.27 %Jan 29
Stock Market88,558-1.97 %Jan 29

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