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.

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Turkey Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
19.25 18.95 138.71 -4.01 1965 - 2021 percent Monthly
2003=100


Calendar GMT Actual Previous Consensus TEForecast
2021-06-03 07:00 AM May 16.59% 17.14% 17.25% 17.3%
2021-07-05 07:00 AM Jun 17.53% 16.59% 17% 17.02%
2021-08-03 07:00 AM Jul 18.95% 17.53% 18.5% 18.6%
2021-09-03 07:00 AM Aug 19.25% 18.95% 18.7% 18.9%
2021-10-04 07:00 AM Sep 19.25% 18.8%
2021-11-03 07:00 AM Oct
2021-12-03 07:00 AM Nov


News Stream
Turkish Inflation Rate Hits Fresh 2-Year High
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.
2021-09-03
Turkey July Inflation Rate Above Forecasts
Turkey's annual consumer price inflation rose to 18.95% in July 2021 from 17.53% in June, above market expectations of 18.5% and just below the central bank's policy interest rate level of 19%. It is the highest inflation rate since April of 2019. Main upward pressure came from prices of food & non-alcoholic beverages (24.92% vs 19.99% in June); housing & utilities (19.31% vs 14.62%), amid recent price hikes on electricity and natural gas; transportation (24.62% vs 26.29%) and hotels, cafes and restaurants (20.63% vs 18.86%), pressured by a significant increase in activity in the travel and tourism sectors. The core consumer price inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 17.21% in July from 17.48% in June. On a monthly basis, consumer prices advanced 1.80%, down slightly from a 1.94% increase in the previous month, but above market estimates of a 1.54% rise.
2021-08-03
Turkey June Inflation Rate Above Forecasts
Turkey's annual consumer price inflation quickened to 17.53% in June 2021 from 16.59% in May, above market expectations of 17% and the central bank's medium-term 5% target. It is the highest inflation rate since May of 2019, amid the ongoing currency weakness. Main upward pressure came from prices of food & non-alcoholic beverages (19.99% vs 17.04% in May); housing & utilities (14.62% vs 14.08%); furnishings (25.69% vs 21.79%); transport (26.29% vs 28.39%); health (19.06% vs 19.30%) and recreation & culture (12.21% vs 10.05%). On a monthly basis, consumer prices inched up 1.94%, the most since last November and beating market expectations of a 1.5% increase. The core consumer price inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to 17.48% in June, from 16.99% in May.
2021-07-05
Turkish May Inflation Rate Unexpectedly Slows
Turkey's consumer price inflation eased to 16.59 percent year-on-year in May 2021, from a near two-year high of 17.14 percent in the previous month and below market expectations of 17.25 percent. Still, the rate remined well above the central bank's medium-term 5 percent target, with upward pressure coming from food and non-alcoholic beverages (17.04 percent vs 16.98 percent in April), transport (28.39 percent vs 29.31 percent), housing and utilities (14.08 percent vs 13.60 percent), furnishings, household equipment and routine maintenance (21.79 percent vs 22.27 percent), hotels, cafes and restaurants (17.73 percent vs 16.81 percent), clothing and footwear (5.75 percent vs 11.03 percent), and miscellaneous goods and services (17.92 percent vs 18.27 percent). The core consumer price inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, slowed to 16.99 percent in May from 17.77 percent in April.
2021-06-03

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).