The inflation rate in Turkey increased to 14.6 percent in December of 2020 from 14 percent in November, reaching the highest level since August of 2019. Figures came above market forecasts of 14.2 percent as a weaker lira continues to pressure prices. Cost of miscellaneous goods and services (28.12 percent); transportation (21.12 percent) and food and non-alcoholic beverages (20.61 percent) increased the most. On the other hand, prices of clothing and footwear went down 0.32 percent and cost of alcoholic beverages and tobacco edged up 0.65 percent. On a monthly basis, consumer prices went up 1.25 percent. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.26 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 February of 2021.
Inflation Rate in Turkey is expected to be 11.90 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 9.50 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.