The annual inflation rate in Turkey fell for a fifth consecutive month to 50.5% in March of 2023, the lowest since January of 2022, from 55.2% in February and below market expectations of 51.3%. Cost advanced at a softer pace for food & non-alcoholic beverages (67.9% vs 69.3% in February), alcoholic beverages & tobacco (43.8% vs 49.3%), clothing & footwear (17.3% vs 21.7%), housing & utilities (56.1% vs 55.9% ), furnishings, household equipment, routine maintenance (53.4% vs 54.1%), health (64.7% vs 70.1%), transportation (28.7% vs 44.9% ), hotels, cafes & restaurants (70.7%vs 74.3%) and education (43.8% vs 44.2% ). On the other hand, inflation rose slightly for recreation & culture (47.4% vs 47.2%). On a monthly basis, consumer prices rose 2.3%, the lowest in three months, after a 3.2% hike in the previous month, and less than a predicted 2.85%. Meanwhile, the core rate, which excludes volatile items, rose by 47.4% in March from 50.6% in the previous month. source: Turkish Statistical Institute

Inflation Rate in Turkey averaged 34.74 percent from 1965 until 2023, 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 April of 2023.

Inflation Rate in Turkey is expected to be 51.10 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 10.00 percent in 2024 and 5.60 percent in 2025, according to our econometric models.

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Turkey Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-03-03 07:00 AM Feb 55.18% 57.68% 55.5% 58.1%
2023-04-03 07:00 AM Mar 50.51% 55.18% 51.33% 51.1%
2023-05-03 07:00 AM Apr 50.51%


Related Last Unit Reference
Inflation Rate 50.51 percent Mar 2023
Inflation Rate MoM 2.29 percent Mar 2023
Consumer Price Index CPI 1269.75 points Mar 2023
Core Inflation Rate 47.36 percent Mar 2023
Core Consumer Prices 958.81 points Mar 2023
GDP Deflator 231.30 points Dec 2022
Producer Prices 2147.44 points Mar 2023
Producer Prices Change 62.45 percent Mar 2023
Export Prices 116.16 points Feb 2023
Import Prices 136.79 points Feb 2023
Food Inflation 67.89 percent Mar 2023
CPI Transportation 1340.79 points Mar 2023
CPI Housing Utilities 1317.80 points Mar 2023

Turkey Inflation Rate
In Turkey, the most important categories in the Consumer Price Index are Food & Non-alcoholic Beverages (25% of the total weight); Transportation (17%); Housing, Water, Electricity, Gas & Other Fuels (14%). Others include: Furnishings, Household Equipment & Routine Maintenance (9%); Hotels, Cafes & Restaurants (7%); Clothing & Footwear (6%); and Miscellaneous Goods & Services (5%). The index also includes: Alcoholic Beverages & Tobacco (4%), Communications (4%) and Education (2%).
Actual Previous Highest Lowest Dates Unit Frequency
50.51 55.18 138.71 -4.01 1965 - 2023 percent Monthly
2003=100

News Stream
Turkish Inflation Rate Slows for 5th Month
The annual inflation rate in Turkey fell for a fifth consecutive month to 50.5% in March of 2023, the lowest since January of 2022, from 55.2% in February and below market expectations of 51.3%. Cost advanced at a softer pace for food & non-alcoholic beverages (67.9% vs 69.3% in February), alcoholic beverages & tobacco (43.8% vs 49.3%), clothing & footwear (17.3% vs 21.7%), housing & utilities (56.1% vs 55.9% ), furnishings, household equipment, routine maintenance (53.4% vs 54.1%), health (64.7% vs 70.1%), transportation (28.7% vs 44.9% ), hotels, cafes & restaurants (70.7%vs 74.3%) and education (43.8% vs 44.2% ). On the other hand, inflation rose slightly for recreation & culture (47.4% vs 47.2%). On a monthly basis, consumer prices rose 2.3%, the lowest in three months, after a 3.2% hike in the previous month, and less than a predicted 2.85%. Meanwhile, the core rate, which excludes volatile items, rose by 47.4% in March from 50.6% in the previous month.
2023-04-03
Turkish Inflation Rate at 1-Year Low
The annual inflation rate in Turkey fell for a fourth consecutive month to 55.2% in February of 2023, the lowest since February of 2022, compared to market expectations of 55.5%. Cost advanced at a softer pace in all components except education: food & non-alcoholic beverages (69.3% vs 71% in January), alcoholic beverages & tobacco (49.3% vs 50.6%), clothing & footwear (21.7% vs 24.2%) housing & utilities (55.9% vs 56.2%), furnishings, household equipment, routine maintenance (54.1% vs 61.9%), health (70.1% vs 77.2%), transportation (44.9% vs 47.7% ), hotels, cafes & restaurants (74.3% vs 75.1%), recreation & culture (47.2% vs 49.9%) and education (44.2% vs 41.7%). On a monthly basis, consumer prices rose by 3.2%, after a 6.7% hike in the previous month. Policymakers expect inflation to fall to 22.3% by the end of the year.
2023-03-03
Turkish Inflation Rate Eases to 11-Month Low
The annual inflation rate in Turkey fell for a third consecutive month to 57.7% in January of 2023, the lowest since February of 2022, but higher than market forecasts of 53.5%. The recent slowdown is mainly due to a fall in energy prices and a statistical discrepancy as prices in 2022 soared after the lira plunged to record low levels. A slowdown was seen in cost of food & non-alcoholic beverages (71% vs 77.9% in December), housing and utilities (56.2% vs 79.8%), transportation (47.7% vs 54.5%) and clothing and footwear (24.2% vs 25.9%). On the other hand, prices accelerated for hotels, cafes & restaurants (75.1% vs 68.5%), health (77.2% vs 67%) and education( 41.7% vs 37.3%). On a monthly basis, consumer prices went up 6.7%, the highest in nine months, after a 1.2% rise in the previous month. Policymakers expect inflation to fall to 22.3% by the end of the year.
2023-02-03