Turkey's annual inflation rate increased to a four-month high of 11.84 percent in December 2019 from 10.56 percent in the previous month, and slightly above market expectations of 11.56 percent. Inflation accelerated for: food & non-alcoholic beverages (10.89% vs 8.89% in November); housing, water, electricity, gas & other fuels (9.90% vs 9.58%); transport (12.21% vs 8.72%); hotels, cafes & restaurants (13.17% vs 13.07%) and clothing & footwear (4.53% vs 2.21%). Meanwhile, inflation eased for both furnishing, household equipment, routine maintenance of the house (9.79% vs 9.81%) and miscellaneous goods and services (13.63% vs 14.03%). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to a four-month high of 9.81 percent in December from 9.25 percent in November. On a monthly basis, consumer prices went up 0.74 percent, following a 0.38 percent gain in November. Inflation Rate in Turkey averaged 34.66 percent from 1965 until 2019, 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. source: Turkish Statistical Institute

Inflation Rate in Turkey is expected to be 10.10 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 8.60 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 5.70 percent in 2020, according to our econometric models.

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Turkey Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
11.84 10.56 138.71 -4.01 1965 - 2019 percent Monthly
2003=100



Calendar GMT Actual Previous Consensus TEForecast
2019-10-03 07:00 AM Sep 9.26% 15.01% 15.51% 9.4%
2019-11-04 07:00 AM Oct 8.55% 9.26% 8.6% 8.4%
2019-12-03 07:00 AM Nov 10.56% 8.55% 11% 11.5%
2020-01-03 07:00 AM Dec 11.84% 10.56% 11.56% 11.8%
2020-02-03 07:00 AM Jan 11.84%


News Stream
2019-12-03
Turkish Inflation Rate Rises Less than Expected
Turkey's annual inflation rate increased to 10.56 percent in November 2019 from a near three-year low of 8.55 percent in the previous month, and slightly below market expectations of 11 percent. Food and transport prices rose at a faster pace, while housing inflation eased. Annual core inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, increased to 9.25 percent from 6.67 percent in the previous month. On a monthly basis, consumer prices went up 0.38 percent, following a 2 percent jump in October.

2019-11-04
Turkish Inflation Rate at Near 3-Year Low
Turkey's annual inflation rate dropped to 8.55 percent in October 2019 from 9.26 percent in the previous month. It was the lowest rate since December 2016, mainly due to a slowdown in food and housing inflation. Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 6.67 percent from 7.54 percent, the lowest rate since August 2013. On a monthly basis, consumer prices jumped 2 percent, following a 0.99 percent rise in September.

2019-10-03
Turkish Inflation Rate Drops to Near 3-Year Low
Turkey's annual inflation rate fell to 9.26 percent in September 2019 from 15.01 percent in the previous month. It was the lowest rate since January 2017, mainly due to a slowdown in food and housing inflation, and a decline in transport cost. Inflation is now expected to rebound by year end to around 12-13 percent, still leaving room for the central bank to ease policy further. Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 7.54 percent in September, the lowest rate since December 2016. On a monthly basis, consumer prices went up 0.99 percent, following a 0.86 percent gain in August and compared to market expectations of 1.3 percent.

2019-09-03
Turkish Inflation Rate Eases to 15-Month Low
Turkey's annual inflation rate fell to 15.01 percent in August of 2019 from 16.65 percent in the previous month and below market expectations of 15.51 percent. It was the lowest rate since May 2018.

2019-08-05
Turkey Annual Inflation Rate Rises to 16.65% in July
Turkey’s annual inflation rate increased to 16.65 percent in July of 2019 from 15.72 percent in the previous month and below market expectations of 16.9 percent.

2019-07-03
Turkey Annual Inflation Rate at 1-Year Low in June
Turkey's annual inflation rate declined to 15.72 percent in June 2019 from 18.71 percent in the previous month and slightly below market expectations of 15.74 percent. It was the lowest inflation rate since June last year, mainly due to a slowdown in cost of food & non-alcoholic beverages, transportation and housing & utilities.


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).

Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 11.84 10.56 138.71 -4.01 percent [+]
Inflation Rate Mom 0.74 0.38 6.30 -1.44 percent [+]
Consumer Price Index CPI 440.50 437.25 440.50 94.77 points [+]
Core Consumer Prices 372.63 372.41 372.63 94.47 points [+]
Core Inflation Rate 9.81 9.25 24.34 2.50 percent [+]
GDP Deflator 186.60 170.60 186.60 59.40 points [+]
Producer Prices 454.08 450.97 457.16 0.01 points [+]
Producer Prices Change 7.36 4.26 139.90 -3.75 percent [+]
Export Prices 90.64 90.18 128.12 58.61 points [+]
Import Prices 86.68 87.01 127.41 45.77 points [+]
Food Inflation 10.89 8.89 31.86 1.38 percent [+]
Harmonised Consumer Prices 168.83 167.59 168.83 1.20 points [+]
Cpi Housing Utilities 487.44 486.29 487.44 96.79 points [+]
CPI Transportation 425.08 422.69 425.08 94.61 points [+]