The Turkish consumer price inflation eased to 20.30 percent year-on-year in December 2018 from 21.62 percent in the prior month, and slightly below market expectations of 20.52 percent. It was the lowest inflation rate since August, mainly due to a softer rise in prices of food, housing, and transport. Inflation Rate in Turkey averaged 35.02 percent from 1965 until 2018, 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 19.10 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 15.10 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 9.50 percent in 2020, according to our econometric models.

Turkey Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-10-03 07:00 AM Inflation Rate YoY 24.52% 17.9% 19.5%
2018-11-05 07:00 AM Inflation Rate YoY 25.24% 24.52% 24.5% 25.8%
2018-12-03 07:00 AM Inflation Rate YoY 21.62% 25.24% 22.58% 22.5%
2019-01-03 07:00 AM Inflation Rate YoY 20.3% 21.62% 20.52% 20%
2019-02-04 07:00 AM Inflation Rate YoY 20.3%
2019-03-04 07:00 AM Inflation Rate YoY
2019-04-03 07:00 AM Inflation Rate YoY 19.1%



Turkish December Inflation Rate Falls Below Forecasts

The Turkish consumer price inflation eased to 20.30 percent year-on-year in December 2018 from 21.62 percent in the prior month, and slightly below market expectations of 20.52 percent. It was the lowest inflation rate since August, mainly due to softer rises in prices of food, housing, and transport.

Inflation eased for: food and non-alcoholic beverages (25.11 percent vs 25.66 percent in November); housing and utilities (23.73 percent vs 24.76 percent); transportation (15.97 percent vs 21.03 percent); furnishing and household equipment (31.36 percent vs 32.73 percent); hotels, cafes and restaurants (19.81 percent vs 20.01 percent); clothing and footwear (14.83 percent vs 16.86 percent). Meanwhile, prices went up faster for both miscellaneous goods and services (28.80 percent vs 27.87 percent), and alcoholic beverages and tobacco (2.39 percent vs 2.23 percent).

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, declined to 19.53 percent in December from 20.72 percent in the previous month.
 
On a monthly basis, consumer prices dropped 0.40 percent in December, following a 1.44 percent fall in November and compared to market expectations of a 0.23 percent decrease. This was the second straight monthly decline in consumer prices, due to decreases in costs of clothing and footwear (-4.08 percent), transportation (-2.56 percent), recreation and culture (-0.25 percent), communication (-0.11 percent) and housing (-0.06 percent).


Turkish Statistical Institute | Chusnul Ch Manan | chusnul@tradingeconomics.com
1/3/2019 11:51:25 AM


News

Turkish November Inflation Rate Lower than Expected
The Turkish consumer price inflation eased to 21.62 percent year-on-year in November 2018 from a near 15-year high of 25.24 percent in the prior month, and below market expectations of 22.58 percent. It was the lowest inflation rate since August mainly due to a favourable trend in oil, lira recovery and tax cuts in consumer durables, furniture and automobile introduced by the government in early November.
Published on 2018-12-03

Turkish October Inflation Rate Highest Since 2003
The Turkish consumer price inflation increased to 25.24 percent year-on-year in October of 2018 from a 24.52 percent in the prior month, and beating market expectations of 24.5 percent. It was the highest inflation rate since July 2003, as both food and housing prices increased faster while transport prices continued to rise amid a falling lira.
Published on 2018-11-05

Turkish Inflation Rate Jumps to 15-Year High
The Turkish consumer price inflation climbed to 24.52 percent year-on-year in September 2018, the highest level since August 2003, as the impact of a currency crisis continued to hurt the economy. The sharp increase in inflation came in despite a 625 bps hike in interest rates on September 13th.
Published on 2018-10-03

Turkish Inflation Rate Hits New 14-1/2-Year High
The Turkish consumer price inflation rose to 17.90 percent year-on-year in August 2018 from 15.85 percent in the previous month, and below market expectations of 21.50 percent. Still, inflation remained well above the central bank's target of 5 percent and hit the highest level since December 2003 as the lira slumped to fresh record lows amid a currency crisis.
Published on 2018-09-03



Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 20.30 21.62 138.71 -4.01 percent [+]
Inflation Rate Mom -0.40 -1.44 6.30 -1.44 percent [+]
Consumer Price Index CPI 393.88 395.48 401.27 94.77 Index Points [+]
Core Consumer Prices 339.34 340.87 347.37 94.47 Index Points [+]
Core Inflation Rate 19.53 20.72 24.34 2.50 percent [+]
GDP Deflator 183.20 172.70 186.10 59.40 Index Points [+]
Producer Prices 422.94 432.55 443.78 0.01 Index Points [+]
Producer Prices Change 33.64 38.54 139.90 -3.75 percent [+]
Export Prices 92.51 92.88 128.12 58.61 Index Points [+]
Import Prices 92.72 93.38 127.41 45.77 Index Points [+]
Food Inflation 25.11 29.26 29.26 1.38 percent [+]
Harmonised Consumer Prices 150.96 151.57 153.79 1.20 Index Points [+]
Cpi Housing Utilities 443.54 443.79 443.79 96.79 Index Points [+]
CPI Transportation 378.82 388.79 419.21 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
20.30 21.62 138.71 -4.01 1965 - 2018 percent Monthly
2003=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 2.00 Dec/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.30 Dec/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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