Turkey Inflation


Turkey: Inflation drops to lowest level in over two years in June

July 3, 2015

In June, consumer prices dropped 0.51% over the previous month, which contracted May’s 0.56% increase. According to the statistical office, lower prices were recorded for food and non-alcoholic beverages.

Inflation dropped from May’s 8.1% to 7.2% in June, marking the lowest rate since May 2013. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, increased 0.34% in June (May: +1.56% month-on-month). Core inflation was stable at May’s 7.7%.

The Central Bank of Turkey (CBRT) sees year-end inflation at 6.8% in 2015. FocusEconomics panelists expect inflation to close 2015 at 6.8%, which is unchanged from last month’s forecast. For 2016, the panel sees inflation moderating to 6.6% by year-end.

Author: Angela Bouzanis, Senior Economist

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Turkey Inflation Chart

Turkey Inflation June 2015

Note: Year-on-year and month-on-month variation of consumer price index in %.
Source: Turkish Statistical Institute (TurkStat).

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