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. Inflation Rate in Turkey averaged 35.04 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 20.00 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 16.80 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
2018-09-03 07:00 AM Inflation Rate YoY 17.9% 15.85% 21.5% 17.5%
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 21.62% 20%
2019-02-05 07:00 AM Inflation Rate YoY
2019-03-05 07:00 AM Inflation Rate YoY



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.

Inflation slowed for: food and non-alcoholic beverages (25.66 percent vs 29.26 percent in October); transportation (21.03 percent vs 32.00 percent); housing and utilities (24.76 percent vs 25.72 percent); furnishing and household equipment (32.73 percent vs 37.92 percent); hotels, cafes and restaurants (20.01 percent vs 20.06 percent); clothing and footwear (16.86 percent vs 18.45 percent); and miscellaneous goods and services (27.87 percent vs 31.50 percent). Meanwhile, prices of alcoholic beverages and tobacco went up at a faster pace (2.23 percent vs 2.06 percent).
 
Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, dropped to 20.72 percent in November from an all-time high of 24.34 percent in the previous month.
 
On a monthly basis, consumer prices fell 1.44 percent in November, following a 2.67 percent climb in October and compared to market expectations of a 0.75 percent drop. This was the first monthly decline in consumer prices since June 2017, due to decreases in costs of transportation (-6.46 percent); furnishing and household equipment (-2.85 percent); recreation and culture (-2.08 percent); miscellaneous goods and services (-0.96 percent); and food and non-alcoholic beverages (-0.74 percent).


Turkish Statistical Institute | Chusnul Ch Manan | chusnul@tradingeconomics.com
12/3/2018 10:56:07 AM


Recent Releases

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 Inflation Rate Highest Since 2004
The annual inflation rate in Turkey increased to 15.85 percent in July of 2018 from 15.35 percent in June. It was the highest inflation rate since January of 2004, mainly boosted by higher prices of food and non-alcoholic beverages and housing and utilities.
Published on 2018-08-03



Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 21.62 25.24 138.71 -4.01 percent [+]
Inflation Rate Mom -1.44 2.67 6.30 -1.44 percent [+]
Consumer Price Index CPI 395.48 401.27 401.27 94.77 Index Points [+]
Core Consumer Prices 340.87 347.37 347.37 94.47 Index Points [+]
Core Inflation Rate 20.72 24.34 24.34 2.50 percent [+]
GDP Deflator 183.20 172.70 186.10 59.40 Index Points [+]
Producer Prices 432.55 443.78 443.78 0.01 Index Points [+]
Producer Prices Change 38.54 45.01 139.90 -3.75 percent [+]
Export Prices 93.67 94.04 128.12 58.61 Index Points [+]
Import Prices 92.18 92.41 127.41 45.77 Index Points [+]
Food Inflation 25.66 29.26 29.26 1.38 percent [+]
Harmonised Consumer Prices 153.79 149.79 153.79 1.20 Index Points [+]
Cpi Housing Utilities 443.79 441.70 443.79 96.79 Index Points [+]
CPI Transportation 388.79 415.66 419.21 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
21.62 25.24 138.71 -4.01 1965 - 2018 percent Monthly
2003=100




Country Last Previous
Argentina 45.50 Oct/18
Australia 1.90 Sep/18
Brazil 4.05 Nov/18
Canada 2.40 Oct/18
China 2.20 Nov/18
Euro Area 2.00 Nov/18
France 1.90 Nov/18
Germany 2.30 Nov/18
India 2.33 Nov/18
Indonesia 3.23 Nov/18
Italy 1.70 Nov/18
Japan 1.40 Oct/18
Mexico 4.72 Nov/18
Netherlands 2.00 Nov/18
Russia 3.80 Nov/18
Saudi Arabia 2.40 Oct/18
Singapore 0.70 Oct/18
South Africa 5.20 Nov/18
South Korea 2.00 Nov/18
Spain 1.70 Nov/18
Switzerland 0.90 Nov/18
Turkey 21.62 Nov/18
United Kingdom 2.40 Oct/18
United States 2.20 Nov/18


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