Turkey's consumer price inflation rate rose to 16.19 percent year-on-year in March 2021, from 15.61 percent in the previous month and slightly above market expectations of 16.11 percent. It was the highest rate since July 2019, amid a falling lira. Main upward pressure came from food and non-alcoholic beverages (17.44 percent vs 18.40 percent); transportation (24.85 percent vs 22.47 percent); housing and utilities (12.17 percent vs 11.69 percent); furnishing, household equipment, routine maintenance of the house (23.64 percent vs 23.74 percent); hotels, cafes and restaurants (15.39 percent vs 13.44 percent); clothing and footwear (7.43 percent vs 6.31 percent); and miscellaneous goods and services (21.49 percent vs 20.61 percent). On a monthly basis, consumer prices climbed 1.08 percent in March, also above forecasts of 1.04 percent. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.18 percent from 1965 until 2021, 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 2021.
Inflation Rate in Turkey is expected to be 18.00 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 9.10 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 7.80 percent in 2022 and 5.10 percent in 2023, according to our econometric models.