The inflation rate in Turkey increased to 14.97 percent in January of 2021 from 14.60 percent in December, and above market forecasts of 14.68 percent. It was the highest inflation rate since August 2019, mainly due to a faster rise in prices of both housing, water, electricity, gas and other fuels (11.56 percent vs 9.59 percent in December 2020) and transportation (21.43 vs 21.12 percent). Upward pressure also came from food and non-alcoholic beverages (18.11 vs 20.61 percent), clothing and footwear (2.12 percent vs -0.32 percent), miscellaneous goods and services (24.53 vs 28.12 percent) and alcoholic beverages and tobacco (1.35 percent vs 0.65 percent). On a monthly basis, consumer prices were up 1.68 percent. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.24 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 February of 2021.
Inflation Rate in Turkey is expected to be 11.90 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 9.50 in 12 months time. 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.