Turkey's annual consumer price inflation quickened to 17.53% in June 2021 from 16.59% in May, above market expectations of 17% and the central bank's medium-term 5% target. It is the highest inflation rate since May of 2019, amid the ongoing currency weakness. Main upward pressure came from prices of food & non-alcoholic beverages (19.99% vs 17.04% in May); housing & utilities (14.62% vs 14.08%); furnishings (25.69% vs 21.79%); transport (26.29% vs 28.39%); health (19.06% vs 19.30%) and recreation & culture (12.21% vs 10.05%). On a monthly basis, consumer prices inched up 1.94%, the most since last November and beating market expectations of a 1.5% increase. The core consumer price inflation rate, which excludes volatile items such as energy, food and non-alcoholic beverages, alcoholic beverages, tobacco and gold, rose to 17.48% in June, from 16.99% in May. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.11 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 July of 2021.
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 8.70 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.