Turkey's annual inflation rate increased to 12.37 percent in February 2020, the highest since last August, but below market expectations of 12.70 percent. Inflation accelerated for: housing, water, electricity, gas & other fuels (15.31 percent vs 14.76 percent in January); food & non-alcoholic beverages (10.58 percent vs 9.04 percent); and miscellaneous goods & services (16.44 percent vs 15.01 percent). Meanwhile, prices rose at a slower pace for: transport (11.73 percent vs 12.95 percent); hotels, cafes & restaurants (13.45 percent vs 13.52 percent); and furnishing & household equipment (7.36 percent vs 7.51 percent). Annual core inflation rate, which excludes energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, also rose to a six-month high of 9.97 percent. On a monthly basis, consumer prices went up 0.35 percent, the least since June last year.
Inflation Rate in Turkey averaged 34.60 percent from 1965 until 2020, 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 April of 2020. source: Turkish Statistical Institute
Inflation Rate in Turkey is expected to be 10.10 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 8.60 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 5.70 percent in 2021, according to our econometric models.