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.