Turkey Inflation Rate  1965-2016 | Data | Chart | Calendar | Forecast

Turkey's consumer prices increased by 7.54 percent year-on-year in June 2016 compared with a 6.58 percent growth in the previous month. It was the highest reading since February, as cost of food and transportation advanced at a faster pace. On a monthly basis, consumer prices went up 0.47 percent, slowing from a 0.58 percent rise in May but beating market expectations of 0.1 percent gain. Inflation Rate in Turkey averaged 36.11 percent from 1965 until 2016, 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. Inflation Rate in Turkey is reported by the Turkish Statistical Institute.

Turkey Inflation Rate
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Actual Previous Highest Lowest Dates Unit Frequency
7.64 6.58 138.71 -4.01 1965 - 2016 percent Monthly
2003=100
In Turkey, the most important categories in the consumer price index are food and non-alcoholic beverages (24.5 percent of total weight); housing, water, electricity, gas and other fuels (16.4 percent of total weight) and transportation (15.5 percent). Others include: furnishings, household equipment and routine maintenance (7.5 percent); clothing and footwear (7.2 percent); hotels, cafes and restaurants (6.6 percent); alcoholic beverages and tobacco (5.3 percent). The index also includes communication (4.7 percent); miscellaneous goods and services (4.3 percent); recreation and culture (3.4 percent); health (2.4 percent) and education (2.3 percent). 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 - actual data, historical chart and calendar of releases - was last updated on July of 2016.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-05-03 07:00 AM Apr 6.57% 7.46% 6.83% 8.1%
2016-06-03 07:00 AM May 6.58% 6.57% 6.90% 6.82%
2016-07-04 07:00 AM Jun 7.64% 6.58% 7.3%
2016-08-03 07:00 AM Jul 7.64% 7.8%
2016-09-05 07:00 AM Aug 8.2%
2016-10-03 07:00 AM Sep 8.7%

Turkey Holds Key Rate, Cuts Lending Rate for 5th Time


Turkish central bank kept its benchmark one-week repo rate on hold at 7.5 percent on July 19th, as widely expected. Policymakers said the current monetary policy stance, the cautious macroprudential policies and the effective use of the policy instruments increased the resilience of the economy against shocks, after a failed attempt at a military coup in the country led to sharp fluctuations in financial markets. Meanwhile, the bank lowered its overnight lending rate for a fifth time in a row to 8.75 percent, signaling further willingness to ease policy, and kept the overnight borrowing rate at 7.25 percent.

Inflation went up in June and remains above the central bank's 5 percent target.

Statement by the Central Bank of the Republic of Turkey:

Annual loan growth continues at reasonable rates in response to the tight monetary policy stance and macroprudential measures. The favorable developments in the terms of trade and the moderate course of consumer loans contribute to the improvement in the current account balance. While domestic demand continues to have a positive impact on growth, demand from the European Union economies continues to support exports. Accordingly economic activity displays a moderate and stable course of growth. The Committee assesses that the implementation of the structural reforms would contribute to the potential growth significantly.

Recently, domestic developments have led to fluctuations in financial markets. The Committee assesses that the recent liquidity measures have alleviated the volatility in financial markets. Moreover, the tight monetary policy stance, the cautious macroprudential policies and the effective use of the policy instruments laid out in the road map published in August 2015 have increased the resilience of the economy against shocks. Also considering its contribution to the effectiveness of monetary policy, the Committee decided to take a measured and cautious step towards simplification.

The Committee has indicated that inflation may display a marked increase in the short term due to developments in unprocessed food and tobacco prices. Meanwhile, the core inflation trend is expected to improve gradually. Yet, the developments in inflation outlook necessitate the maintenance of a tight liquidity stance.

Future monetary policy decisions will be conditional on the inflation outlook. Taking into account inflation expectations, pricing behavior and the course of other factors affecting inflation, the tight monetary policy stance will be maintained. Moreover, market developments will be closely monitored and the necessary liquidity measures will continue to be taken to support financial stability.



Central Bank of Turkey | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/19/2016 12:18:39 PM

Turkey Prices Last Previous Highest Lowest Unit
Inflation Rate 7.64 6.58 138.71 -4.01 percent [+]
Inflation Rate Mom 0.47 0.58 3.27 -1.43 percent [+]
Consumer Price Index CPI 279.33 278.02 279.33 94.77 Index Points [+]
Core Consumer Prices 108.51 107.12 108.51 1.34 Index Points [+]
Core Inflation Rate 8.70 8.80 93.70 3.00 percent [+]
GDP Deflator 1576.15 1487.87 1576.15 86.57 Index Points [+]
Producer Prices 257.27 256.21 257.27 0.01 Index Points [+]
Producer Prices Change 3.41 3.25 139.90 -3.75 percent [+]
Export Prices 93.05 92.67 128.12 58.61 Index Points [+]
Import Prices 82.70 80.87 127.41 45.77 Index Points [+]
Food Inflation 6.63 2.47 17.08 1.38 percent [+]
Harmonised Consumer Prices 236.46 235.82 236.46 2.65 percent [+]
Cpi Transportation 256.62 254.90 256.62 94.61 Index Points [+]




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