Turkey's annual inflation rate fell to 18.71 percent in May 2019 from 19.50 percent in the previous month and below market expectations of 19.1 percent. It was the lowest rate since August last year, as prices rose at a softer pace for food & non-alcoholic beverages, housing and transportation. Inflation Rate in Turkey averaged 34.90 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 16.80 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
2019-03-04 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 18.71% 19.5% 19.1% 18.7%
2019-07-03 07:00 AM Inflation Rate YoY 18.71% 16.8%
2019-08-05 07:00 AM Inflation Rate YoY
2019-09-03 07:00 AM Inflation Rate YoY



Turkish Inflation Rate Eases to 9-Month Low

Turkey's annual inflation rate fell to 18.71 percent in May 2019 from 19.50 percent in the previous month and below market expectations of 19.1 percent. It was the lowest rate since August last year.

Prices rose at a softer pace for: food and non-alcoholic beverages (28.44 percent vs 31.86 percent in April); housing, water, electricity, gas and other fuels (14.68 percent vs 15.31 percent); transportation (12.40 percent vs 12.55 percent); furnishing, household equipment, routine maintenance of the house (24.54 percent vs 27.64 percent); clothing and footwear (4.78 percent vs 5.91 percent); and miscellaneous goods and services (26.75 percent vs 27.47 percent). Meanwhile, hotels, cafes and restaurants inflation accelerated to (19.77 percent vs 19.58 percent) and alcoholic beverages and tobacco jumped 19.22 percent, following a 9.66 percent gain in April.

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, eased to 15.87 percent in May, the lowest since last July, from 16.30 percent in the preceding month.

On a monthly basis, consumer prices advanced 0.95 percent in May, slowing from a 1.69 percent climb in April and also below market consensus of 1.3 percent. The sharpest price increases were recorded for alcoholic beverages and tobacco (6.77 percent), clothing and footwear (5.36 percent), furnishing and household equipment (2.65 percent), miscellaneous goods and services (1.94 percent), and food and non-alcoholic beverages (1.40 percent).


Turkish Statistical Institute | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/3/2019 7:20:32 AM



Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 18.71 19.50 138.71 -4.01 percent [+]
Inflation Rate Mom 0.95 1.69 6.30 -1.44 percent [+]
Consumer Price Index CPI 413.52 409.63 413.52 94.77 Index Points [+]
Core Consumer Prices 349.37 344.80 349.37 94.47 Index Points [+]
Core Inflation Rate 15.87 16.30 24.34 2.50 percent [+]
GDP Deflator 154.20 180.50 186.10 59.40 Index Points [+]
Producer Prices 456.74 444.85 456.74 0.01 Index Points [+]
Producer Prices Change 28.71 30.12 139.90 -3.75 percent [+]
Export Prices 91.50 91.88 128.12 58.61 Index Points [+]
Import Prices 91.11 91.00 127.41 45.77 Index Points [+]
Food Inflation 28.44 31.86 31.86 1.38 percent [+]
Harmonised Consumer Prices 154.39 152.81 154.39 1.20 Index Points [+]
Cpi Housing Utilities 434.32 432.57 443.79 96.79 Index Points [+]
CPI Transportation 398.25 389.74 419.21 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 June of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
18.71 19.50 138.71 -4.01 1965 - 2019 percent Monthly
2003=100




Country Last Previous
Argentina 57.30 May/19
Australia 1.30 Mar/19
Brazil 4.66 May/19
Canada 2.00 Apr/19
China 2.70 May/19
Euro Area 1.20 May/19
France 0.90 May/19
Germany 1.40 May/19
India 3.05 May/19
Indonesia 3.32 May/19
Italy 0.80 May/19
Japan 0.90 Apr/19
Mexico 4.28 May/19
Netherlands 2.40 May/19
Russia 5.10 May/19
Saudi Arabia -1.90 Apr/19
Singapore 0.80 Apr/19
South Africa 4.40 Apr/19
South Korea 0.70 May/19
Spain 0.80 May/19
Switzerland 0.60 May/19
Turkey 18.71 May/19
United Kingdom 2.10 Apr/19
United States 1.80 May/19


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