Inflation in Turkey

Turkey Inflation | Economic News & Forecasts

Turkey - Inflation

Inflation sets new record-high July

Consumer prices jumped 2.37% month on month in July, down from the 4.95% increase recorded in June. The uptick came on the back of a surge in transportation, food and non-alcoholic beverages, furnishing and household equipment, and alcoholic beverages and tobacco prices.

Inflation, meanwhile, surged to a fresh series-high of 79.6% in July (June: 78.62%). July's figure was the highest inflation rate since our current records began. Meanwhile, the trend pointed up, with annual average inflation coming in at 49.7% in July from 44.5% in June. Lastly, core inflation jumped to 61.7% in July from 57.3% in June.

FocusEconomics Consensus Forecast panelists expect inflation to average 70.8% in 2022 and 34.4% in 2023.

Turkey - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)7.7  7.8  11.1  16.3  15.2  

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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 Yield12.00-0.09 %Dec 31
Exchange Rate5.95-0.85 %Jan 01

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