The inflation rate in Turkey increased to 14.97 percent in January of 2021 from 14.60 percent in December, and above market forecasts of 14.68 percent. It was the highest inflation rate since August 2019, mainly due to a faster rise in prices of both housing, water, electricity, gas and other fuels (11.56 percent vs 9.59 percent in December 2020) and transportation (21.43 vs 21.12 percent). Upward pressure also came from food and non-alcoholic beverages (18.11 vs 20.61 percent), clothing and footwear (2.12 percent vs -0.32 percent), miscellaneous goods and services (24.53 vs 28.12 percent) and alcoholic beverages and tobacco (1.35 percent vs 0.65 percent). On a monthly basis, consumer prices were up 1.68 percent. source: Turkish Statistical Institute

Inflation Rate in Turkey averaged 34.24 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 February of 2021.

Inflation Rate in Turkey is expected to be 11.90 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 9.50 in 12 months time. 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
14.97 14.60 138.71 -4.01 1965 - 2021 percent Monthly
2003=100


Calendar GMT Actual Previous Consensus TEForecast
2020-11-03 07:00 AM Oct 11.89% 11.75% 11.9% 11.5%
2020-12-03 07:00 AM Nov 14.03% 11.89% 12.6% 12.4%
2021-01-04 07:00 AM Dec 14.6% 14.03% 14.2% 14%
2021-02-03 07:00 AM Jan 14.97% 14.6% 14.68% 14.6%
2021-03-03 07:00 AM Feb 14.97%
2021-04-05 07:00 AM Mar
2021-05-03 07:00 AM Apr
2021-06-03 07:00 AM May
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Turkish Inflation Rate Rises to 17-Month High
The inflation rate in Turkey increased to 14.97 percent in January of 2021 from 14.60 percent in December, and above market forecasts of 14.68 percent. It was the highest inflation rate since August 2019, mainly due to a faster rise in prices of both housing, water, electricity, gas and other fuels (11.56 percent vs 9.59 percent in December 2020) and transportation (21.43 vs 21.12 percent). Upward pressure also came from food and non-alcoholic beverages (18.11 vs 20.61 percent), clothing and footwear (2.12 percent vs -0.32 percent), miscellaneous goods and services (24.53 vs 28.12 percent) and alcoholic beverages and tobacco (1.35 percent vs 0.65 percent). On a monthly basis, consumer prices were up 1.68 percent.
2021-02-03
Turkey Inflation Rate Above Forecasts
The inflation rate in Turkey increased to 14.6 percent in December of 2020 from 14 percent in November, reaching the highest level since August of 2019. Figures came above market forecasts of 14.2 percent as a weaker lira continues to pressure prices. Cost of miscellaneous goods and services (28.12 percent); transportation (21.12 percent) and food and non-alcoholic beverages (20.61 percent) increased the most. On the other hand, prices of clothing and footwear went down 0.32 percent and cost of alcoholic beverages and tobacco edged up 0.65 percent. On a monthly basis, consumer prices went up 1.25 percent.
2021-01-04
Turkish Inflation Rate at 15-Month High of 14.03%
The inflation rate in Turkey rose to 14.03 percent in November of 2020 from 11.89 percent in October, beating market forecasts of 12.6 percent. It is the highest reading since August last year amid a falling lira. Food and non-alcoholic beverages inflation accelerated to an 18-month high of 21.08 percent from 16.5 percent. Inflation also rose for housing water, electricity, gas and other fuels (9.12 percent vs 8.37 percent), transportation (18.67 percent vs 13.92 percent), miscellaneous goods and services (29.42 percent vs 27.4 percent), and health (16.25 percent vs 15.6 percent). On a monthly basis, consumer prices increased 2.3 percent, following a 2.1 percent gain in October and above market expectations of a 1 percent rise.
2020-12-03
Turkey Inflation Rate Edges Up to 11.9%
The inflation rate in Turkey edged up to 11.89 percent in October of 2020 from 11.75 percent in September, in line with market forecasts. Prices of miscellaneous goods and services recorded the highest increase (27.4 percent), followed by food (16.5 percent) and health (15.6 percent). In contrast, smaller increases were seen in alcoholic beverages and tobacco (0.7 percent), clothing and footwear (2.2 percent) and communication (5.5 percent). On a monthly basis, consumer prices increased 2.1 percent, above 1 percent in September and matching expectations.
2020-11-03

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).