The annual inflation rate in Turkey rose to 21.31 percent in November of 2021 from 19.89 percent in the previous month and above market expectations of 20.7 percent. It was the highest inflation rate since November 2018 and compared with the central bank’s target of 5%, amid higher oil prices and as the lira breaks record lows with President Tayyip Erdogan pledging lower interest rates in the country. Energy cost climbed 22.14 percent, accelerating from a 25.76 percent gain in October while food inflation eased slightly (27.11 percent vs 27.41 percent). Core inflation, which excludes volatile items such as food and energy, rose to 17.62 percent from 16.82 percent in October. On a monthly basis, consumer prices jumped 3.51 percent, more than expectations of a 3 percent rise. source: Turkish Statistical Institute

Inflation Rate in Turkey averaged 34 percent from 1965 until 2021, reaching an all time high of 138.71 percent in May of 1980 and a record low of -4.01 percent in June of 1968. This page provides the latest reported value for - Turkey Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Turkey Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Inflation Rate in Turkey is expected to be 25.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Inflation Rate is projected to trend around 10.80 percent in 2022 and 5.10 percent in 2023, according to our econometric models.

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Turkey Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-11-03 07:00 AM Oct 19.89% 19.58% 20.4% 20%
2021-12-03 07:00 AM Nov 21.31% 19.89% 20.7% 23%
2022-01-04 07:00 AM Dec 21.31%


Related Last Previous Unit Reference
Inflation Rate 21.31 19.89 percent Nov/21
Inflation Rate Mom 3.51 2.39 percent Nov/21
Consumer Price Index CPI 604.84 584.32 points Nov/21
Core Inflation Rate 17.62 16.82 percent Nov/21
Core Consumer Prices 496.10 482.50 points Nov/21
GDP Deflator 213.50 186.30 points Sep/21
Producer Prices 858.43 780.45 points Nov/21
Producer Prices Change 54.62 46.31 percent Nov/21
Export Prices 105.25 104.57 points Sep/21
Import Prices 119.09 120.40 points Sep/21
Food Inflation 27.11 27.41 percent Nov/21
CPI Transportation 615.69 579.17 points Nov/21
CPI Housing Utilities 656.84 636.97 points Nov/21

News Stream
Turkish Inflation Rate Hits 3-Year High
The annual inflation rate in Turkey rose to 21.31 percent in November of 2021 from 19.89 percent in the previous month and above market expectations of 20.7 percent. It was the highest inflation rate since November 2018 and compared with the central bank’s target of 5%, amid higher oil prices and as the lira breaks record lows with President Tayyip Erdogan pledging lower interest rates in the country. Energy cost climbed 22.14 percent, accelerating from a 25.76 percent gain in October while food inflation eased slightly (27.11 percent vs 27.41 percent). Core inflation, which excludes volatile items such as food and energy, rose to 17.62 percent from 16.82 percent in October. On a monthly basis, consumer prices jumped 3.51 percent, more than expectations of a 3 percent rise.
2021-12-03
Turkey Inflation Rate Lower than Forecasts
The annual inflation rate in Turkey edged up to 19.89% in October of 2021, the highest since January of 2019, but below market forecasts of 20.4%, as the lira remained under pressure at record low levels and energy costs surged. Main price increases were seen for food and non-alcoholic beverages (27.41%); hotels, cafes and restaurants (25.23%); furnishings and household equipment (23.03%); housing (21.3%) and transportation (20.67%). On a monthly basis, consumer prices jumped 2.39%, the highest since October 2018.
2021-11-03
Turkish Inflation Rate Hits 2-1/2-Year High
Turkey's consumer price inflation rose to 19.58 percent year-on-year in September 2021, the highest rate since March 2019 and above the central bank's policy rate of 18 percent due to lira weakness. Still, the inflation rate came in slightly below market expectations of 19.7 percent. Main upward pressure came from food and non-alcoholic beverages (28.79 percent vs 29.0 percent in July), transportation (20.21 percent vs 21.76 percent), housing and utilities (20.97 percent vs 19.30 percent), furnishing and household equipment (23.27 percent vs 22.91 percent), and hotels, cafes and restaurants (23.27 percent vs 21.48 percent). The annual core inflation, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, picked up to 16.98 percent in September, from 16.76 percent in the previous month. On a monthly basis, consumer prices advanced 1.25 percent, less than expectations of a 1.35 percent rise.
2021-10-04

Turkey Inflation Rate
In Turkey, the most important categories in the consumer price index are food and non-alcoholic beverages (23.7 percent of total weight); housing, water, electricity, gas and other fuels (15.9 percent of total weight) and transportation (14.3 percent). Others include: furnishings, household equipment and routine maintenance (8 percent); hotels, cafes and restaurants (7.5 percent); clothing and footwear (7.4 percent); alcoholic beverages and tobacco (5 percent). The index also includes miscellaneous goods and services (4.7 percent); communication (4.4 percent); recreation and culture (3.8 percent); health (2.7 percent) and education (2.6 percent).