Turkey's consumer price inflation rate rose to 12.62 percent year-on-year in June 2020, the highest since August 2019 and above market expectations of 12.09 percent, as the economy re-opened from the coronavirus-induced restriction measures. Cost rose at a faster pace for food & non-alcoholic beverages (12.93 percent vs 12.87 percent), transportation (10.96 percent vs 6.69 percent), housing & utilities (14.95 percent vs 14.45 percent), hotels, cafes & restaurants (11.13 percent vs 10.94 percent), clothing & footwear (10.66 percent vs 7.68 percent), and alcoholic beverages & tobacco (22.41 percent vs 21.41 percent). Meanwhile, miscellaneous goods & services inflation slowed to 19.80 percent from 20.86 percent.
Inflation Rate in Turkey averaged 34.46 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 July 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.