Turkey's annual consumer price inflation rose to 18.95% in July 2021 from 17.53% in June, above market expectations of 18.5% and just below the central bank's policy interest rate level of 19%. It is the highest inflation rate since April of 2019. Main upward pressure came from prices of food & non-alcoholic beverages (24.92% vs 19.99% in June); housing & utilities (19.31% vs 14.62%), amid recent price hikes on electricity and natural gas; transportation (24.62% vs 26.29%) and hotels, cafes and restaurants (20.63% vs 18.86%), pressured by a significant increase in activity in the travel and tourism sectors. The core consumer price inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 17.21% in July from 17.48% in June. On a monthly basis, consumer prices advanced 1.80%, down slightly from a 1.94% increase in the previous month, but above market estimates of a 1.54% rise. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.08 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 August of 2021.
Inflation Rate in Turkey is expected to be 16.00 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 7.80 percent in 2022 and 5.10 percent in 2023, according to our econometric models.