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. Inflation Rate in Turkey averaged 34.81 percent from 1965 until 2019, 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.

Inflation Rate in Turkey is expected to be 14.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Turkey to stand at 11.50 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 5.70 percent in 2020, according to our econometric models.

Turkey Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-03 07:00 AM Inflation Rate YoY May 18.71% 19.5% 19.1% 18.7%
2019-07-03 07:00 AM Inflation Rate YoY Jun 15.72% 18.71% 15.74% 16.8%
2019-08-05 07:00 AM Inflation Rate YoY Jul 16.65% 15.72% 16.9% 16%
2019-09-03 07:00 AM Inflation Rate YoY Aug 15.01% 16.65% 15.51% 15.7%
2019-10-03 07:00 AM Inflation Rate YoY Sep 15.01% 14%
2019-11-04 07:00 AM Inflation Rate YoY Oct
2019-12-03 07:00 AM Inflation Rate YoY Nov



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.

Year-on-year, prices rose at a softer pace for food & non-alcoholic beverages (17.22 percent vs 18.21 percent in July); housing & utilities (14.02 percent vs 16.05 percent); transportation (6.72 percent vs 13.67 percent); furniture & household equipment (20.13 percent vs 25.41 percent); hotels, cafes & restaurants (18.52 percent vs 19.85 percent); miscellaneous goods & services (20.98 percent vs 26.93 percent); communication (3.57 percent vs 6.29 percent); recreation & culture (15.07 percent vs 17.47 percent) and health (17.47 percent vs 17.93 percent) . On the other hand, cost advanced faster for clothing & footwear (4.70 percent vs 4.18 percent); alcoholic beverages & tobacco (41.42 percent vs 19.23 percent) and education (17.59 percent vs 13.68 percent). 

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 13.60 percent in August from 16.20 percent in the July.

On a monthly basis, consumer prices went up 0.86 percent, slowing from a 1.36 percent gain in July and below market expectations of 1.3 percent. Prices declined for food & non-alcoholic beverages (-0.77 percent); transport (-1.94 percent) and clothing & footwear (-1.10 percent). Meanwhile, increases were recorded for housing & utilities (2.04 percent); furniture & household equipment (0.16 percent) and hotels, cafes & restaurants (0.75 percent).   


Turkish Statistical Institute | Rafael Gonzalez | rafael.gonzalez@tradingeconomics.com
9/3/2019 8:59:16 AM



Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 15.01 16.65 138.71 -4.01 percent [+]
Inflation Rate Mom 0.86 1.36 6.30 -1.44 percent [+]
Consumer Price Index CPI 422.84 419.24 422.84 94.77 Index Points [+]
Core Consumer Prices 360.22 360.00 360.22 94.47 Index Points [+]
Core Inflation Rate 13.60 16.20 24.34 2.50 percent [+]
GDP Deflator 170.70 154.80 186.00 59.40 Index Points [+]
Producer Prices 449.96 452.63 457.16 0.01 Index Points [+]
Producer Prices Change 13.45 21.66 139.90 -3.75 percent [+]
Export Prices 92.22 92.40 128.12 58.61 Index Points [+]
Import Prices 89.12 89.79 127.41 45.77 Index Points [+]
Food Inflation 17.22 18.21 31.86 1.38 percent [+]
Harmonised Consumer Prices 160.68 158.53 160.68 1.20 Index Points [+]
Cpi Housing Utilities 458.10 448.94 458.10 96.79 Index Points [+]
CPI Transportation 409.88 417.97 419.21 94.61 Index Points [+]


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). 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 - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
15.01 16.65 138.71 -4.01 1965 - 2019 percent Monthly
2003=100




Country Last Previous
Argentina 53.60 Aug/19
Australia 1.60 Jun/19
Brazil 3.43 Aug/19
Canada 2.00 Jul/19
China 2.80 Aug/19
Euro Area 1.00 Aug/19
France 1.00 Aug/19
Germany 1.40 Aug/19
India 3.21 Aug/19
Indonesia 3.49 Aug/19
Italy 0.50 Aug/19
Japan 0.50 Jul/19
Mexico 3.16 Aug/19
Netherlands 2.80 Aug/19
Russia 4.30 Aug/19
Saudi Arabia -1.30 Jul/19
Singapore 0.40 Jul/19
South Africa 4.00 Jul/19
South Korea 0.00 Aug/19
Spain 0.30 Aug/19
Switzerland 0.30 Aug/19
Turkey 15.01 Aug/19
United Kingdom 2.10 Jul/19
United States 1.70 Aug/19


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