Turkey Inflation December 2020

Turkey

Turkey: Inflation hits highest level since August 2019 in December

January 7, 2021

Consumer prices rose 1.25% over the previous month in December, easing from November’s 2.30% increase. The print reflected a steep drop in clothing and footwear prices being offset by marked rises in furnishing and household equipment, transportation, and food and non-alcoholic beverages prices.

Inflation, meanwhile, rose to a 16-month high of 14.6% in December, up from November’s 14.0%. Meanwhile, the trend pointed up, with annual average inflation coming at 12.3% in December, up from November’s 12.0%. Lastly, core inflation jumped to 14.3% in December (November: 13.3%).

FocusEconomics Consensus Forecast panelists expect inflation to average 11.2% in 2021, which is up 0.1 percentage points from last month’s forecast, and 9.9% in 2022.


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