Turkey's consumer price inflation rate eased to 11.76 percent year-on-year in June 2020, from a ten-month high of 12.62 percent in the previous month and below market expectations of 12.1 percent, as the economy continued to emerge from the coronavirus-induced lockdown. Cost rose at a softer pace for food & non-alcoholic beverages (12.73 percent vs 12.93 percent), transportation (8.81 percent vs 10.96 percent), housing & utilities (12.53 percent vs 14.95 percent), hotels, cafes & restaurants (10.92 percent vs 11.13 percent), clothing & footwear (10.34 percent vs 10.66 percent), and alcoholic beverages & tobacco (21.78 percent vs 22.41 percent). Meanwhile, miscellaneous goods & services inflation picked up to 21.90 percent from 19.80 percent.
Inflation Rate in Turkey averaged 34.42 percent from 1965 until 2020, 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 2020. source: Turkish Statistical Institute
Inflation Rate in Turkey is expected to be 9.10 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 7.50 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 6.80 percent in 2021 and 5.70 percent in 2022, according to our econometric models.