The annual inflation rate in Turkey rose to 67.07% in February 2024, accelerating from 64.86% in the previous month and coming more than market estimates of 65.74%. It was the highest reading since November 2022, driven by a solid rise in minimum wage and adjustments in government taxes. Prices increased faster for all subgroups, particularly food & non-alcoholic beverages (71.2% vs 69.71% in January), transport (77.98% vs 77.54%), and housing & utilities (49.07% vs 45.99%). Additionally, inflation went up for furnishings, household equipment, & routine maintenance (62.92% vs 61.10%), hotels, cafes & restaurants (94.78% vs 92.27%), clothing & footwear (43.44% vs 40.62%), and miscellaneous goods & services (61.86% vs 58.95%). Meanwhile, the core inflation quickened to 72.89% in February from 70.48% in the prior period. On a monthly basis, the CPI grew 4.53%, moderating from a 5-month high of 6.70% advance in January. source: Turkish Statistical Institute
Inflation Rate in Turkey increased to 67.07 percent in February from 64.86 percent in January of 2024. Inflation Rate in Turkey averaged 35.06 percent from 1965 until 2024, 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 March of 2024.
Inflation Rate in Turkey increased to 67.07 percent in February from 64.86 percent in January of 2024. Inflation Rate in Turkey is expected to be 69.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Turkey Inflation Rate is projected to trend around 14.00 percent in 2025, according to our econometric models.