News

Turkish Inflation Rate Jumps to 20-Month High
Turkey's consumer price inflation rate rose to 16.19 percent year-on-year in March 2021, from 15.61 percent in the previous month and slightly above market expectations of 16.11 percent. It was the highest rate since July 2019, amid a falling lira. Main upward pressure came from food and non-alcoholic beverages (17.44 percent vs 18.40 percent); transportation (24.85 percent vs 22.47 percent); housing and utilities (12.17 percent vs 11.69 percent); furnishing, household equipment, routine maintenance of the house (23.64 percent vs 23.74 percent); hotels, cafes and restaurants (15.39 percent vs 13.44 percent); clothing and footwear (7.43 percent vs 6.31 percent); and miscellaneous goods and services (21.49 percent vs 20.61 percent). On a monthly basis, consumer prices climbed 1.08 percent in March, also above forecasts of 1.04 percent.
Published on 2021-04-05

Turkey Inflation Rate Continues to Rise
Consumer prices in Turkey jumped 15.61 percent year-on-year in February of 2021, above 14.97 percent in January and market forecasts of 15.39 percent. It is the highest inflation rate since July of 2019 with transportation (22.47 percent), miscellaneous goods and services (20.61 percent), food and non-alcoholic beverages (18.4 percent) and health (18.11 percent) recording the biggest increases. On a monthly basis, consumer prices rose 0.9 percent, below 1.68 percent in January but above forecasts of 0.7 percent.
Published on 2021-03-03

Turkish Inflation Rate Rises to 17-Month High
The inflation rate in Turkey increased to 14.97 percent in January of 2021 from 14.60 percent in December, and above market forecasts of 14.68 percent. It was the highest inflation rate since August 2019, mainly due to a faster rise in prices of both housing, water, electricity, gas and other fuels (11.56 percent vs 9.59 percent in December 2020) and transportation (21.43 vs 21.12 percent). Upward pressure also came from food and non-alcoholic beverages (18.11 vs 20.61 percent), clothing and footwear (2.12 percent vs -0.32 percent), miscellaneous goods and services (24.53 vs 28.12 percent) and alcoholic beverages and tobacco (1.35 percent vs 0.65 percent). On a monthly basis, consumer prices were up 1.68 percent.
Published on 2021-02-03

Turkey Inflation Rate Above Forecasts
The inflation rate in Turkey increased to 14.6 percent in December of 2020 from 14 percent in November, reaching the highest level since August of 2019. Figures came above market forecasts of 14.2 percent as a weaker lira continues to pressure prices. Cost of miscellaneous goods and services (28.12 percent); transportation (21.12 percent) and food and non-alcoholic beverages (20.61 percent) increased the most. On the other hand, prices of clothing and footwear went down 0.32 percent and cost of alcoholic beverages and tobacco edged up 0.65 percent. On a monthly basis, consumer prices went up 1.25 percent.
Published on 2021-01-04

Turkish Inflation Rate at 15-Month High of 14.03%
The inflation rate in Turkey rose to 14.03 percent in November of 2020 from 11.89 percent in October, beating market forecasts of 12.6 percent. It is the highest reading since August last year amid a falling lira. Food and non-alcoholic beverages inflation accelerated to an 18-month high of 21.08 percent from 16.5 percent. Inflation also rose for housing water, electricity, gas and other fuels (9.12 percent vs 8.37 percent), transportation (18.67 percent vs 13.92 percent), miscellaneous goods and services (29.42 percent vs 27.4 percent), and health (16.25 percent vs 15.6 percent). On a monthly basis, consumer prices increased 2.3 percent, following a 2.1 percent gain in October and above market expectations of a 1 percent rise.
Published on 2020-12-03

Turkey Inflation Rate Edges Up to 11.9%
The inflation rate in Turkey edged up to 11.89 percent in October of 2020 from 11.75 percent in September, in line with market forecasts. Prices of miscellaneous goods and services recorded the highest increase (27.4 percent), followed by food (16.5 percent) and health (15.6 percent). In contrast, smaller increases were seen in alcoholic beverages and tobacco (0.7 percent), clothing and footwear (2.2 percent) and communication (5.5 percent). On a monthly basis, consumer prices increased 2.1 percent, above 1 percent in September and matching expectations.
Published on 2020-11-03

Turkish Inflation Rate Little-Changed in September
Turkey's consumer price inflation rate stood at 11.75 percent year-on-year in September 2020, little-changed from the previous two months and compared to market expectations 12.13 percent, as the lira hit multiple record lows. Main upward pressure came from food and non-alcoholic beverages (14.95 percent vs 13.51 percent), transportation (12.95 percent vs 12.69 percent), housing and utilities (10.0 percent vs 11.34 percent), hotels, cafes and restaurants (10.92 percent vs 11.80 percent), furnishing and household equipment (11.34 percent vs 8.90 percent), clothing and footwear (6.91 percent vs 9.22 percent), alcoholic beverages and tobacco (0.68 percent vs 2.44 percent) and miscellaneous goods and services (25.17 percent vs 26.99 percent).
Published on 2020-10-05

Turkish Inflation Rate Remains Elevated in August
Turkey's consumer price inflation rate stood at 11.77 percent year-on-year in August 2020, little-changed from the previous month's 11.76 percent and compared to market expectations 11.91 percent, as the lira hit an all-time low. Main upward pressure came from food and non-alcoholic beverages (13.51 percent), transportation (12.69 percent), housing and utilities (11.34 percent), hotels, cafes and restaurants (11.80 percent), furnishing and household equipment (8.90 percent), clothing and footwear (9.22 percent), alcoholic beverages and tobacco (2.44 percent) and miscellaneous goods and services (26.99 percent). The annual core inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to 11.03 percent in August from 10.25 percent in July.
Published on 2020-09-03

Turkey Inflation Rate Slows More than Expected in July
Turkey's consumer price inflation rate eased to 11.76 percent year-on-year in June 2020, from a ten-month high of 12.62 percent in the previous month and below market expectations of 12.1 percent, as the economy continued to emerge from the coronavirus-induced lockdown. Cost rose at a softer pace for food & non-alcoholic beverages (12.73 percent vs 12.93 percent), transportation (8.81 percent vs 10.96 percent), housing & utilities (12.53 percent vs 14.95 percent), hotels, cafes & restaurants (10.92 percent vs 11.13 percent), clothing & footwear (10.34 percent vs 10.66 percent), and alcoholic beverages & tobacco (21.78 percent vs 22.41 percent). Meanwhile, miscellaneous goods & services inflation picked up to 21.90 percent from 19.80 percent.
Published on 2020-08-04

Turkey Inflation Rate Climbs to 10-Month High
Turkey's consumer price inflation rate rose to 12.62 percent year-on-year in June 2020, the highest since August 2019 and above market expectations of 12.09 percent, as the economy re-opened from the coronavirus-induced restriction measures. Cost rose at a faster pace for food & non-alcoholic beverages (12.93 percent vs 12.87 percent), transportation (10.96 percent vs 6.69 percent), housing & utilities (14.95 percent vs 14.45 percent), hotels, cafes & restaurants (11.13 percent vs 10.94 percent), clothing & footwear (10.66 percent vs 7.68 percent), and alcoholic beverages & tobacco (22.41 percent vs 21.41 percent). Meanwhile, miscellaneous goods & services inflation slowed to 19.80 percent from 20.86 percent.
Published on 2020-07-03

Turkey Inflation Rate Picks Up in May
The annual inflation rate in Turkey increased to 11.39 percent in May of 2020 from 10.94 percent in the previous month and slightly above market expectations of 11 percent, mainly due to a weaker lira. Cost advanced faster for food, beverages & tobacco (12.87 percent vs 11.28 percent in April) and transportation (6.69 percent vs 5.54 percent) while prices of housing & utilities eased (14.45 percent vs 14.52 percent). The annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to 10.3 percent from 9.93 percent in April. On a monthly basis, consumer prices went up 1.36 percent, after increasing 0.85 percent in the prior month.
Published on 2020-06-03

Turkey Inflation Rate Slows to 5-Month Low of 10.94%
The annual inflation rate in Turkey dropped to 10.94 percent in April 2020 from 11.86 percent in the previous month but above market expectations of 10.88 percent. It was the lowest reading since November last year, as prices eased mainly for transport (5.54 percent vs 8.79 percent in March) amid a drop in global oil prices and housing & utilities (14.52 percent vs 15.31 percent). On the other hand, cost of food & non-alcoholic beverages rose further (11.28 percent vs 10.05 percent). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, declined to 9.93 percent from a seven-month high of 11.65 percent in March. On a monthly basis, consumer prices went up 0.85 percent, after increasing 0.57 percent in the prior month.
Published on 2020-05-04

Turkey Inflation Rate Softens to 11.86% in March
The annual inflation rate in Turkey fell to 11.86 percent in March of 2020 from 12.37 percent in the previous month, slightly above market expectations of 11.85 percent. This was the lowest inflation rate since December, as prices slowed mostly for transport (8.79 percent vs 11.73 percent in February) amid falling global oil prices and food & non-alcoholic beverages (10.05 percent vs 10.58 percent in February). Meantime, inflation remained steady for housing & utilities (at 15.31 percent). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to a seven-month high of 11.65 percent.On a monthly basis, consumer prices inched up 0.57 percent, after increasing 0.35 percent in the previous month.
Published on 2020-04-03

Turkish Inflation Rate Below Forecasts in February
Turkey's annual inflation rate increased to 12.37 percent in February 2020, the highest since last August, but below market expectations of 12.70 percent. Inflation accelerated for: housing, water, electricity, gas & other fuels (15.31 percent vs 14.76 percent in January); food & non-alcoholic beverages (10.58 percent vs 9.04 percent); and miscellaneous goods & services (16.44 percent vs 15.01 percent). Meanwhile, prices rose at a slower pace for: transport (11.73 percent vs 12.95 percent); hotels, cafes & restaurants (13.45 percent vs 13.52 percent); and furnishing & household equipment (7.36 percent vs 7.51 percent). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, also rose to a six-month high of 9.97 percent. On a monthly basis, consumer prices went up 0.35 percent, the least since June last year.
Published on 2020-03-03

Turkish Inflation Rate at 5-Month High of 12.15%
Turkey's annual inflation rate increased to a five-month high of 12.15 percent in January 2020 from 11.84 percent in the previous month, and above market expectations of 11.86 percent. Inflation accelerated for: housing, water, electricity, gas & other fuels (14.76% vs 9.90% in December 2019); transport (12.95% vs 12.21%); hotels, cafes & restaurants (13.52% vs 13.17%); clothing & footwear (6.00% vs 4.53%); and miscellaneous goods and services (15.01% vs 13.63%). Meanwhile, inflation eased for both food & non-alcoholic beverages (9.04% vs 10.89%); and furnishing, household equipment, routine maintenance of the house (7.51% vs 9.79%). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to a five-month high of 9.88 percent in January from 9.81 percent in December. On a monthly basis, consumer prices went up 1.35 percent, following a 0.74 percent gain in December 2019, the highest since October last year.
Published on 2020-02-03

Turkish Inflation Rate at 4-Month High of 11.84%
Turkey's annual inflation rate increased to a four-month high of 11.84 percent in December 2019 from 10.56 percent in the previous month, and slightly above market expectations of 11.56 percent. Inflation accelerated for: food & non-alcoholic beverages (10.89% vs 8.89% in November); housing, water, electricity, gas & other fuels (9.90% vs 9.58%); transport (12.21% vs 8.72%); hotels, cafes & restaurants (13.17% vs 13.07%) and clothing & footwear (4.53% vs 2.21%). Meanwhile, inflation eased for both furnishing, household equipment, routine maintenance of the house (9.79% vs 9.81%) and miscellaneous goods & services (13.63% vs 14.03%). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to a four-month high of 9.81 percent in December from 9.25 percent in November. On a monthly basis, consumer prices went up 0.74 percent, following a 0.38 percent gain in November.
Published on 2020-01-03

Turkish Inflation Rate Rises Less than Expected
Turkey's annual inflation rate increased to 10.56 percent in November 2019 from a near three-year low of 8.55 percent in the previous month, and slightly below market expectations of 11 percent. Food and transport prices rose at a faster pace, while housing inflation eased. Annual core inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, increased to 9.25 percent from 6.67 percent in the previous month. On a monthly basis, consumer prices went up 0.38 percent, following a 2 percent jump in October.
Published on 2019-12-03

Turkish Inflation Rate at Near 3-Year Low
Turkey's annual inflation rate dropped to 8.55 percent in October 2019 from 9.26 percent in the previous month. It was the lowest rate since December 2016, mainly due to a slowdown in food and housing inflation. Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 6.67 percent from 7.54 percent, the lowest rate since August 2013. On a monthly basis, consumer prices jumped 2 percent, following a 0.99 percent rise in September.
Published on 2019-11-04

Turkish Inflation Rate Drops to Near 3-Year Low
Turkey's annual inflation rate fell to 9.26 percent in September 2019 from 15.01 percent in the previous month. It was the lowest rate since January 2017, mainly due to a slowdown in food and housing inflation, and a decline in transport cost. Inflation is now expected to rebound by year end to around 12-13 percent, still leaving room for the central bank to ease policy further. Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 7.54 percent in September, the lowest rate since December 2016. On a monthly basis, consumer prices went up 0.99 percent, following a 0.86 percent gain in August and compared to market expectations of 1.3 percent.
Published on 2019-10-03

Turkish Inflation Rate Eases to 15-Month Low
Turkey's annual inflation rate fell to 15.01 percent in August of 2019 from 16.65 percent in the previous month and below market expectations of 15.51 percent. It was the lowest rate since May 2018.
Published on 2019-09-03