The annual inflation rate in Turkey fell for a third consecutive month to 57.7% in January of 2023, the lowest since February of 2022, but higher than market forecasts of 53.5%. The recent slowdown is mainly due to a fall in energy prices and a statistical discrepancy as prices in 2022 soared after the lira plunged to record low levels. A slowdown was seen in cost of food & non-alcoholic beverages (71% vs 77.9%), housing and utilities (56.2% vs 79.8% in December), transportation (47.7% vs 54.5%) and clothing and footwear (24.2% vs 25.9%). On the other hand, prices accelerated for hotels, cafes & restaurants (75.1% vs 68.5%), health (77.2% vs 67%) and education( 41.7% vs 37.3%). On a monthly basis, consumer prices went up 6.7%, the highest in nine months, after a 1.2% rise in the previous month. Policymakers expect inflation to fall to 22.3% by the end of the year. source: Turkish Statistical Institute

Inflation Rate in Turkey averaged 34.69 percent from 1965 until 2023, 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 February of 2023.

Inflation Rate in Turkey is expected to be 60.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Turkey Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-01-03 07:00 AM Dec 64.27% 84.39% 66.53% 66.3%
2023-02-03 07:00 AM Jan 57.68% 64.27% 53.5% 61.0%
2023-03-03 07:00 AM Feb 57.68%


Related Last Previous Unit Reference
Inflation Rate 57.68 64.27 percent Jan 2023
Inflation Rate MoM 6.65 1.18 percent Jan 2023
Consumer Price Index CPI 1203.48 1128.45 points Jan 2023
Core Inflation Rate 52.97 51.93 percent Jan 2023
Core Consumer Prices 919.02 853.52 points Jan 2023
GDP Deflator 223.00 201.30 points Sep 2022
Producer Prices 2105.17 2021.19 points Jan 2023
Producer Prices Change 86.46 97.72 percent Jan 2023
Export Prices 109.98 107.09 points Nov 2022
Import Prices 139.53 143.92 points Nov 2022
Food Inflation 71.00 77.87 percent Jan 2023
CPI Transportation 1298.68 1221.87 points Jan 2023
CPI Housing Utilities 1275.95 1235.10 points Jan 2023

Turkey Inflation Rate
In Turkey, the most important categories in the Consumer Price Index are Food & Non-alcoholic Beverages (25% of the total weight); Transportation (17%); Housing, Water, Electricity, Gas & Other Fuels (14%). Others include: Furnishings, Household Equipment & Routine Maintenance (9%); Hotels, Cafes & Restaurants (7%); Clothing & Footwear (6%); and Miscellaneous Goods & Services (5%). The index also includes: Alcoholic Beverages & Tobacco (4%), Communications (4%) and Education (2%).
Actual Previous Highest Lowest Dates Unit Frequency
57.68 64.27 138.71 -4.01 1965 - 2023 percent Monthly
2003=100

News Stream
Turkish Inflation Rate Eases to 11-Month Low
The annual inflation rate in Turkey fell for a third consecutive month to 57.7% in January of 2023, the lowest since February of 2022, but higher than market forecasts of 53.5%. The recent slowdown is mainly due to a fall in energy prices and a statistical discrepancy as prices in 2022 soared after the lira plunged to record low levels. A slowdown was seen in cost of food & non-alcoholic beverages (71% vs 77.9% in December), housing and utilities (56.2% vs 79.8%), transportation (47.7% vs 54.5%) and clothing and footwear (24.2% vs 25.9%). On the other hand, prices accelerated for hotels, cafes & restaurants (75.1% vs 68.5%), health (77.2% vs 67%) and education( 41.7% vs 37.3%). On a monthly basis, consumer prices went up 6.7%, the highest in nine months, after a 1.2% rise in the previous month. Policymakers expect inflation to fall to 22.3% by the end of the year.
2023-02-03
Turkish Inflation Rate Slows to 9-Month Low
The annual inflation rate in Turkey fell to a 9-month low of 64.3 percent in December 2022 from 84.4 percent in the previous month, and compared to market forecasts of 66.5%. Cost advanced at a softer pace in all components: housing & utilities (79.8 percent vs 82.9 percent in November), clothing & footwear (25.9 percent vs 37 percent), food & non-alcoholic beverages (77.9 percent vs 102.6 percent), alcoholic beverages & tobacco (65.1 percent vs 83.5 percent), furnishings, household equipment, routine maintenance (73 percent vs 92.8 percent), transportation (54.5 percent vs 107 percent ), hotels, cafes & restaurants (68.5 percent vs 80.3 percent), recreation & culture (50 percent vs 61.2 percent), miscellaneous goods & services (53.8 percent vs 70.7 percent). On a monthly basis, consumer prices went up 1.2 percent, the lowest in sixteen months, after a 2.9 percent rise in the previous month.
2023-01-03
Turkish Inflation Eases for 1st Time in 18 months
The annual inflation rate in Turkey slowed for the first time in 18 months to 84.4 percent in November 2022, from 85.5 percent in the previous month, and in line with market forecasts of 84.7 percent. Prices rose much less for transportation (107 percent vs 117.2 percent in October) and there was also a slowdown in cost of housing & utilities (82.9 percent vs 85.2 percent), furnishings, household equipment, routine maintenance (92.8 percent vs 93.6 percent), clothing & footwear (37 percent vs 41.3 percent) and hotels, cafes & restaurants (80.3 percent vs 81.9 percent). On the other hand, prices increased faster for food & non-alcoholic beverages (102.6 percent vs 99.1 percent). On a monthly basis, consumer prices rose by 2.9 percent, easing from the 3.5 percent jump in the previous month.
2022-12-05