Inflation in Turkey
Turkey - Inflation (end of period)
Inflation increases to over one-year high in March
Consumer prices increased 1.08% from the previous month in March, picking up from February's 0.91% increase. The print came on the back of marked price increases for health; education; hotels, cafes and restaurants; recreation and culture; and clothing and footwear. This more than offset flatlining transportation prices.
Inflation increased to 16.2%in March, following February’s 15.6%. March's result marked the highest inflation rate since July 2019. Annual average inflation rose to 13.2% in March (February: 12.8%). Lastly, core inflation rose to 16.9% from February’s 16.2%.
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.
Turkey - Inflation (eop) Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %, eop) | 8.8 | 8.5 | 11.9 | 20.3 | 11.8 |
Turkey Inflation (eop) Chart
Source: Statistical Institute and FocusEconomics calculations.
Turkey Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 12.00 | -0.09 % | Dec 31 |
| Exchange Rate | 5.95 | -0.85 % | Jan 01 |
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Economic News
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Turkey: Inflation increases to over one-year high in March
April 6, 2021
Consumer prices increased 1.08% from the previous month in March, picking up from February's 0.91% increase.
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Turkey: Manufacturing PMI rises in March
April 1, 2021
The Istanbul Chamber of Industry Turkey Purchasing Managers’ Index (PMI) rose to 52.6 in March from 51.7 in February.
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Turkey: Business confidence reaches near three-year high in March
March 26, 2021
Business confidence in Turkey rose to a near three-year high 110.8 in March from 109.3 in February.
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Turkey: Consumer confidence ticks up to multi-year high in March
March 24, 2021
Consumer confidence rose to a multi-year high of 86.7 in March from 84.5 in February; however, the index remained markedly below the neutral 100-threshold that separates pessimism from optimism among consumers. The uptick was driven by a broad-based improvement with views on the current financial situation and the expected financial situation in the year ahead turning less downbeat, while attitudes towards the general economic situation over the next 12 months and likelihood of spending also improved.
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Turkey: Central Bank aggressively tightens stance in March
March 18, 2021
At its 18 March meeting, the Monetary Policy Committee of the Central Bank of Turkey raised the one-week repo rate by 200 basis points from 17.00% to 19.00%.
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