The annual inflation rate in Turkey accelerated for the 12th consecutive month to 73.5 percent in May of 2022, the highest since October of 1998 and compared to market estimates of 76.6 percent. It contrasts with a much lower 16.6 percent from the corresponding period of the previous year, as the lira plunged further during the month and real interest rates remained largely negative. Main upward pressure came from food and non-alcoholic beverages (91.6 percent vs 89.1 percent in April), and transportation (107.6 percent vs 105.9 percent), largely due to surging prices for energy (121.1 percent vs 118.2 percent) amid the war in Ukraine. Costs also significantly rose for housing and utilities (63.5 percent vs 61.1 percent), furnishings and household equipment (82.1 percent vs 77.6 percent), and hotels, cafes, and restaurants (76.8 percent vs 69.3 percent). On a monthly basis, consumer prices rose by 3 percent. source: Turkish Statistical Institute

Inflation Rate in Turkey averaged 34.20 percent from 1965 until 2022, 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 June of 2022.

Inflation Rate in Turkey is expected to be 78.00 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 30.00 percent in 2023 and 10.00 percent in 2024, according to our econometric models.

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Turkey Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-05 07:00 AM Apr 69.97% 61.14% 68% 66%
2022-06-03 07:00 AM May 73.5% 69.97% 76.55% 74%
2022-07-04 07:00 AM Jun 73.5% 78%


Related Last Previous Unit Reference
Inflation Rate 73.50 69.97 percent May 2022
Inflation Rate Mom 2.98 7.25 percent May 2022
Consumer Price Index CPI 931.76 904.79 points May 2022
Core Inflation Rate 56.04 52.37 percent May 2022
Core Consumer Prices 703.60 680.19 points May 2022
GDP Deflator 185.70 222.40 points Mar 2022
Producer Prices 1548.01 1423.27 points May 2022
Producer Prices Change 132.16 121.82 percent May 2022
Export Prices 114.15 110.60 points Apr 2022
Import Prices 153.99 146.90 points Apr 2022
Food Inflation 91.60 89.10 percent May 2022
CPI Transportation 1132.57 1094.98 points May 2022
CPI Housing Utilities 927.17 906.81 points May 2022

Turkey Inflation Rate
In Turkey, the most important categories in the consumer price index are food and non-alcoholic beverages (23.7 percent of total weight); housing, water, electricity, gas and other fuels (15.9 percent of total weight) and transportation (14.3 percent). Others include: furnishings, household equipment and routine maintenance (8 percent); hotels, cafes and restaurants (7.5 percent); clothing and footwear (7.4 percent); alcoholic beverages and tobacco (5 percent). The index also includes miscellaneous goods and services (4.7 percent); communication (4.4 percent); recreation and culture (3.8 percent); health (2.7 percent) and education (2.6 percent).
Actual Previous Highest Lowest Dates Unit Frequency
73.50 69.97 138.71 -4.01 1965 - 2022 percent Monthly
2003=100

News Stream
Turkey Inflation Rate at 23-Year High
The annual inflation rate in Turkey accelerated for the 12th consecutive month to 73.5 percent in May of 2022, the highest since October of 1998 and compared to market estimates of 76.6 percent. It contrasts with a much lower 16.6 percent from the corresponding period of the previous year, as the lira plunged further during the month and real interest rates remained largely negative. Main upward pressure came from food and non-alcoholic beverages (91.6 percent vs 89.1 percent in April), and transportation (107.6 percent vs 105.9 percent), largely due to surging prices for energy (121.1 percent vs 118.2 percent) amid the war in Ukraine. Costs also significantly rose for housing and utilities (63.5 percent vs 61.1 percent), furnishings and household equipment (82.1 percent vs 77.6 percent), and hotels, cafes, and restaurants (76.8 percent vs 69.3 percent). On a monthly basis, consumer prices rose by 3 percent.
2022-06-03
Turkish Inflation Rate Hits 70% in April
The annual inflation rate in Turkey accelerated for the 11th consecutive month to 69.97 percent in April of 2022, the highest since February of 2002 and surpassing market estimates of 68 percent. It compares with a much lower rate of 17.14 percent a year earlier, as the lira remains weak and real interest rates remain largely negative. Main upward pressure came from food and non-alcoholic beverages (89.1 percent vs 70.33 percent in March) and transportation (105.86 percent vs 99.12 percent), largely due to surging prices for energy (118.2 percent) amid the war in Ukraine. Costs also significantly rose for housing and utilities (61.14 percent vs 51.43 percent), furnishings and household equipment (77.64 percent vs 69.29 percent ), and hotels, cafes, and restaurants (69.26 percent vs 60.4 percent). On a monthly basis, consumer prices rose by 7.25 percent.
2022-05-05
Turkish Inflation Rate at 20-Year High
The annual inflation rate in Turkey accelerated for the 10th consecutive month to 61.14% in March of 2022, the highest rate since March of 2002 but slightly below market forecasts of 61.6%. It compares with a much lower rate of 16.19% a year earlier, as the lira remains weak and energy prices surged by 102.9% due to the war in Ukraine. Also, transportation prices were up by 99.12%, followed by food and non-alcoholic beverages (70.33%), furnishings and household equipment (69.29%), and restaurants and hotels (60.4%). On a monthly basis, consumer prices rose by 5.46%.
2022-04-04