Inflation in Turkey

Turkey Inflation | Economic News & Forecasts

Turkey - Inflation

Inflationary pressures moderate in February

Consumer prices in Turkey rose 0.16% from the previous month in February, down from January’s 1.06% increase. February’s result reflected significantly cheaper clothing and footwear being partially offset by more expensive health; education; non-alcoholic beverages; hotels, cafes and restaurants; and transportation.

Inflation eased from 20.4% in January to 19.7% in February, the lowest reading since August 2018. Core inflation, meanwhile, fell to 18.1% from 19.0% and the continued moderation in core price pressures is likely linked to the government tax cuts. Muhammet Mercan, chief Turkey economist at ING, added that the drop in core inflation “also reflects sharp Turkish lira strength since October as well as tight policy and weakening domestic demand.” The effects of the tax cuts should fade towards the end of the first quarter, however, and this could prop up prices in the months following.

Turkey Inflation Forecast

FocusEconomics Consensus Forecast panelists expect consumer price inflation to end 2019 at 14.9% and 2020 at 11.2%.

Turkey - Inflation Data

2013  2014  2015  2016  2017  
Inflation Rate (CPI, annual variation in %)7.5  8.9  7.7  7.8  11.1  

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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

Bond Yield14.95-0.09 %Mar 11
Exchange Rate5.45-0.85 %Mar 11
Stock Market100,8501.41 %Mar 11

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