Turkey's consumer prices fell 1.44 percent from a month earlier in November 2018, 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). Inflation Rate Mom in Turkey averaged 0.76 percent from 2003 until 2018, reaching an all time high of 6.30 percent in September of 2018 and a record low of -1.44 percent in November of 2018.
Inflation Rate Mom in Turkey is expected to be 0.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate Mom in Turkey to stand at 0.40 in 12 months time. In the long-term, the Turkey Inflation Rate MoM is projected to trend around 0.50 percent in 2020, according to our econometric models.