The Turkish consumer price inflation eased to 21.62 percent year-on-year in November 2018 from a near 15-year high of 25.24 percent in the prior month, and below market expectations of 22.58 percent. It was the lowest inflation rate since August mainly due to a favourable trend in oil, lira recovery and tax cuts in consumer durables, furniture and automobile introduced by the government in early November. Inflation Rate in Turkey averaged 35.04 percent from 1965 until 2018, 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 20.00 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 16.80 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 9.50 percent in 2020, according to our econometric models.