Turkey’s annual inflation rate increased to 16.65 percent in July of 2019 from June’s one-year low of 15.72 percent and below market expectations of 16.9 percent, mainly due to a rise in prices of housing and utilities and transport. Inflation Rate in Turkey averaged 34.84 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 16.00 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 11.50 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
2019-05-03 07:00 AM Inflation Rate YoY Apr 19.5% 19.71% 19.57% 18.3%
2019-06-03 07:00 AM Inflation Rate YoY May 18.71% 19.5% 19.1% 18.7%
2019-07-03 07:00 AM Inflation Rate YoY Jun 15.72% 18.71% 15.74% 16.8%
2019-08-05 07:00 AM Inflation Rate YoY Jul 16.65% 15.72% 16.9% 16%
2019-09-03 07:00 AM Inflation Rate YoY Aug 16.65% 15.7%
2019-10-03 07:00 AM Inflation Rate YoY Sep 16%
2019-11-04 07:00 AM Inflation Rate YoY Oct



Turkey Annual Inflation Rate Rises to 16.65% in July

Turkey’s annual inflation rate increased to 16.65 percent in July of 2019 from June’s one-year low of 15.72 percent and below market expectations of 16.9 percent, mainly due to a rise in prices of housing and utilities and transport.

Year-on-year, prices rose faster for housing and utilities (16.05 percent from 13.80 percent in June); transportation (13.67 percent from 10 percent); furniture & household equipment (25.41 percent from 22.51 percent); miscellaneous goods and services (26.93 percent from 26.88 percent) and communication (6.29 percent from 5.30 percent). On the other hand, cost slowed for food and non-alcoholic beverages (18.21 percent from 19.20 percent); hotels, cafes and restaurants (19.85 percent from 20.84 percent); clothing and footwear (4.18 percent from 4.33 percent); alcoholic beverages and tobacco (19.23 percent from 19.24 percent); recreation and culture (17.47 percent from 17.48 percent); health (17.93 percent from 19.05 percent) and education (13.68 percent from 13.87 percent). 

Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, advanced to 16.20 percent in July from 14.86 percent in the June. 

On a monthly basis, consumer prices went up 1.36 percent, faster than a 0.03 percent gain in June and below market expectations of 1.6 percent. The sharpest increases were recorded for transportation (4.46 percent); furniture and household equipment (4.24 percent); housing and utilities (3.10 percent); recreation and culture (1.60 percent) and hotels, cafes and restaurants (1.42 percent). In contrast, prices declined for food and non-alcoholic beverages (1.11 percent) and clothing and footwear (-3.20 percent).


Turkish Statistical Institute | Agna Gabriel | agna.gabriel@tradingeconomics.com
8/5/2019 7:49:23 AM



Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 16.65 15.72 138.71 -4.01 percent [+]
Inflation Rate Mom 1.36 0.03 6.30 -1.44 percent [+]
Consumer Price Index CPI 419.24 413.63 419.24 94.77 Index Points [+]
Core Consumer Prices 360.00 352.59 360.00 94.47 Index Points [+]
Core Inflation Rate 16.20 14.86 24.34 2.50 percent [+]
GDP Deflator 154.20 180.50 186.10 59.40 Index Points [+]
Producer Prices 452.63 457.16 457.16 0.01 Index Points [+]
Producer Prices Change 21.66 25.04 139.90 -3.75 percent [+]
Export Prices 92.40 91.59 128.12 58.61 Index Points [+]
Import Prices 89.79 90.39 127.41 45.77 Index Points [+]
Food Inflation 18.21 19.20 31.86 1.38 percent [+]
Harmonised Consumer Prices 158.49 157.00 158.49 1.20 Index Points [+]
Cpi Housing Utilities 448.94 435.43 448.94 96.79 Index Points [+]
CPI Transportation 417.97 400.11 419.21 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 August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
16.65 15.72 138.71 -4.01 1965 - 2019 percent Monthly
2003=100




Country Last Previous
Argentina 54.40 Jul/19
Australia 1.60 Jun/19
Brazil 3.22 Jul/19
Canada 2.00 Jun/19
China 2.80 Jul/19
Euro Area 1.10 Jul/19
France 1.10 Jul/19
Germany 1.70 Jul/19
India 3.15 Jul/19
Indonesia 3.32 Jul/19
Italy 0.40 Jul/19
Japan 0.70 Jun/19
Mexico 3.78 Jul/19
Netherlands 2.50 Jul/19
Russia 4.60 Jul/19
Saudi Arabia -1.40 Jun/19
Singapore 0.60 Jun/19
South Africa 4.50 Jun/19
South Korea 0.60 Jul/19
Spain 0.50 Jul/19
Switzerland 0.30 Jul/19
Turkey 16.65 Jul/19
United Kingdom 2.10 Jul/19
United States 1.80 Jul/19


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