The Turkish annual inflation rate fell to 19.50 percent in April 2019 from 19.71 percent in the previous month and below market expectations of 19.57 percent. This is the lowest inflation rate since August last year, as prices slowed mostly for housing & utilities and transport. However, cost continued to rise for food. Inflation Rate in Turkey averaged 34.93 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.

Inflation Rate in Turkey is expected to be 17.50 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 12.20 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.

Turkey Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-04 07:00 AM Inflation Rate YoY 20.35% 20.3% 20.29% 20.1%
2019-03-04 07:00 AM Inflation Rate YoY 19.67% 20.35% 19.9% 19.7%
2019-04-03 07:00 AM Inflation Rate YoY 19.71% 19.67% 19.57% 19.1%
2019-05-03 07:00 AM Inflation Rate YoY 19.5% 19.71% 19.57% 18.3%
2019-06-03 07:00 AM Inflation Rate YoY 19.5% 18.7%
2019-07-03 07:00 AM Inflation Rate YoY 17.5%
2019-08-05 07:00 AM Inflation Rate YoY



Turkish Inflation Rate at 8-Month Low of 19.50% in April

The Turkish annual inflation rate fell to 19.50 percent in April 2019 from 19.71 percent in the previous month and below market expectations of 19.57 percent. This is the lowest inflation rate since August last year, as prices slowed mostly for housing & utilities and transport. However, cost continued to rise for food.

Year-on-year, prices increased at a slower pace mainly for housing & utilities (15.31 percent vs 16.36 percent in March) and transport (12.55 percent vs 15.16 percent). Also, prices softened for clothing & footwear (5.91 percent vs 10.97 percent); miscellaneous goods & services (27.47 percent vs 27.94 percent); communication (10.20 percent vs 10.49 percent) and recreation & culture (19.33 percent vs 20.08 percent).

In contrast, food inflation accelerated to its highest since at least 2004 (31.86 percent vs 29.77 percent). Additional upward pressure came from furnishings (27.64 percent vs 26.98 percent); hotels, cafes and restaurants (19.58 percent vs 19.60 percent); alcoholic beverages & tobacco (9.66 percent vs 2.71 percent), as some brands of cigarette and tobacco products hiked prices around 20% after nationwide local elections on March 31, partly reflecting the rise in the special consumption tax on cigarettes in January; health (19.75 percent vs 19.72 percent) and education (12.82 percent vs 12.17 percent).

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to a nine-month low of 16.30 percent in April 2019 from 17.53 percent in the preceding month.

On a monthly basis, consumer prices inched up 1.69 percent, after increasing 1.03 percent in the prior month but below market consensus of a 2.4 percent gain. The sharpest increases were recorded for transport (1.19 percent vs 0.75 percent); alcoholic beverages & tobacco (6.77 percent vs 0.01 percent), reflecting the recent hike in prices of cigarettes; and clothing & footwear (5.36 percent vs 0.46 percent). Meanwhile, cost slowed for food & non-alcoholic beverages (1.40 percent vs 2.44 percent).


Turkish Statistical Institute l Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/3/2019 10:31:15 AM



Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 19.50 19.71 138.71 -4.01 percent [+]
Inflation Rate Mom 1.69 1.03 6.30 -1.44 percent [+]
Consumer Price Index CPI 409.63 402.81 409.63 94.77 Index Points [+]
Core Consumer Prices 344.80 339.53 347.37 94.47 Index Points [+]
Core Inflation Rate 16.30 17.53 24.34 2.50 percent [+]
GDP Deflator 180.50 183.20 186.10 59.40 Index Points [+]
Producer Prices 444.85 431.98 444.85 0.01 Index Points [+]
Producer Prices Change 30.12 29.64 139.90 -3.75 percent [+]
Export Prices 91.88 92.19 128.12 58.61 Index Points [+]
Import Prices 91.00 90.67 127.41 45.77 Index Points [+]
Food Inflation 31.86 29.77 31.86 1.38 percent [+]
Harmonised Consumer Prices 154.39 152.81 154.39 1.20 Index Points [+]
Cpi Housing Utilities 432.57 430.98 443.79 96.79 Index Points [+]
CPI Transportation 389.74 385.14 419.21 94.61 Index Points [+]


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). 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 - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
19.50 19.71 138.71 -4.01 1965 - 2019 percent Monthly
2003=100




Country Last Previous
Argentina 55.80 Apr/19
Australia 1.30 Mar/19
Brazil 4.94 Apr/19
Canada 2.00 Apr/19
China 2.50 Apr/19
Euro Area 1.70 Apr/19
France 1.30 Apr/19
Germany 2.00 Apr/19
India 2.92 Apr/19
Indonesia 2.83 Apr/19
Italy 1.10 Apr/19
Japan 0.50 Mar/19
Mexico 4.41 Apr/19
Netherlands 2.90 Apr/19
Russia 5.20 Apr/19
Saudi Arabia -2.10 Mar/19
Singapore 0.60 Mar/19
South Africa 4.50 Mar/19
South Korea 0.60 Apr/19
Spain 1.50 Apr/19
Switzerland 0.70 Apr/19
Turkey 19.50 Apr/19
United Kingdom 1.90 Mar/19
United States 2.00 Apr/19


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