The annual inflation rate in Turkey accelerated for the 14th consecutive month to 79.6 percent in July of 2022, and compared to market expectations of 80.5 percent and 19 percent in the corresponding period of the previous year. It is the highest rate since September of 1998, as the lira plunged further during the month and real interest rates remain largely negative. Prices surged for transportation (119.1 percent) and housing and utilities (70 percent), amid soaring costs of energy (129.3 percent). Costs also climbed for food and non-alcoholic beverages (94.65 percent) and furnishings and household equipment (88.4 percent). On a monthly basis, consumer prices rose by 2.4 percent, easing from the 5 percent jump in the previous month. source: Turkish Statistical Institute

Inflation Rate in Turkey averaged 34.33 percent from 1965 until 2022, 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 August of 2022.

Inflation Rate in Turkey is expected to be 70.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Inflation Rate is projected to trend around 20.00 percent in 2023 and 10.00 percent in 2024, according to our econometric models.

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Turkey Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-04 07:00 AM Jun 78.62% 73.5% 78.35% 79.8%
2022-08-03 07:00 AM Jul 79.6% 78.62% 80.5% 80.8%
2022-09-02 07:00 AM Aug 79.6%


Related Last Previous Unit Reference
Inflation Rate 79.60 78.62 percent Jul 2022
Inflation Rate Mom 2.37 4.95 percent Jul 2022
Consumer Price Index CPI 1001.03 977.90 points Jul 2022
Core Inflation Rate 61.69 57.26 percent Jul 2022
Core Consumer Prices 752.23 727.12 points Jul 2022
GDP Deflator 185.70 222.40 points Mar 2022
Producer Prices 1738.21 1652.75 points Jul 2022
Producer Prices Change 144.61 138.31 percent Jul 2022
Export Prices 115.72 114.32 points Jun 2022
Import Prices 152.27 150.08 points Jun 2022
Food Inflation 94.65 93.90 percent Jul 2022
CPI Transportation 1241.84 1252.47 points Jul 2022
CPI Housing Utilities 1024.47 1004.50 points Jul 2022

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).
Actual Previous Highest Lowest Dates Unit Frequency
79.60 78.62 138.71 -4.01 1965 - 2022 percent Monthly
2003=100

News Stream
Turkey Inflation Rate Hits 79.6% in July
The annual inflation rate in Turkey accelerated for the 14th consecutive month to 79.6 percent in July of 2022, and compared to market expectations of 80.5 percent and 19 percent in the corresponding period of the previous year. It is the highest rate since September of 1998, as the lira plunged further during the month and real interest rates remain largely negative. Prices surged for transportation (119.1 percent) and housing and utilities (70 percent), amid soaring costs of energy (129.3 percent). Costs also climbed for food and non-alcoholic beverages (94.65 percent) and furnishings and household equipment (88.4 percent). On a monthly basis, consumer prices rose by 2.4 percent, easing from the 5 percent jump in the previous month.
2022-08-03
Turkey Inflation Rate Rises to 23-Year High
The annual inflation rate in Turkey accelerated for the 13th consecutive month to 78.6 percent in June of 2022, the highest since September of 1998 and surpassing market expectations of 78.3 percent. It contrasts with the much lower 17.5 percent from the corresponding period of the previous year, as the lira plunged further during the month and real interest rates remain largely negative. Costs surged for transportation (123.4 percent vs 107.6 percent in May) and housing and utilities (75.1 percent vs 63.5 percent), amid surging costs for energy (151.3 percent vs 121.1 percent). Prices also rose for food and non-alcoholic beverages (93.9 percent vs 91.6 percent), and furnishings and household goods (81.1 percent vs 82.1 percent). On a monthly basis, consumer prices jumped by 5 percent, accelerating from the 3 percent rise in the prior month.
2022-07-04
Turkey Inflation Rate at 23-Year High
The annual inflation rate in Turkey accelerated for the 12th consecutive month to 73.5 percent in May of 2022, the highest since October of 1998 and compared to market estimates of 76.6 percent. It contrasts with a much lower 16.6 percent from the corresponding period of the previous year, as the lira plunged further during the month and real interest rates remained largely negative. Main upward pressure came from food and non-alcoholic beverages (91.6 percent vs 89.1 percent in April), and transportation (107.6 percent vs 105.9 percent), largely due to surging prices for energy (121.1 percent vs 118.2 percent) amid the war in Ukraine. Costs also significantly rose for housing and utilities (63.5 percent vs 61.1 percent), furnishings and household equipment (82.1 percent vs 77.6 percent), and hotels, cafes, and restaurants (76.8 percent vs 69.3 percent). On a monthly basis, consumer prices rose by 3 percent.
2022-06-03