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.