Turkey's consumer price inflation rose to 19.25 percent year-on-year in August 2021, the highest rate since April 2019 and above market expectations of 18.7 percent. The inflation came in also above the central bank's policy rate of 19 percent due to lira weakness, keeping pressure on policymakers to maintain a tight stance. Cost rose for food and non-alcoholic beverages (29.0 percent vs 24.92 percent in July), transportation (21.76 percent vs 24.62 percent), housing and utilities (19.30 percent vs 19.31 percent), furnishing and household equipment (22.91 percent vs 22.70 percent), and hotels, cafes and restaurants (21.48 percent vs 20.63 percent). The annual core inflation, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 16.76 percent in August, from 17.21 percent in the previous month. On a monthly basis, consumer prices advanced 1.12 percent, more than expectations of a 0.6 percent rise. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.06 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 September of 2021.
Inflation Rate in Turkey is expected to be 18.80 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.