Inflation Rate in Turkey decreased to 39.05 percent in February from 42.12 percent in January of 2025. This dataset 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.

In November 2024, the inflation rate in Turkey corresponded to 47.1 percent. The monthly inflation rate in Turkey reached 85.51 percent in October 2022, the highest inflation rate recorded during the provided time interval. In June 2023, the year-on-year change in the Consumer Price Index (CPI) was recorded at 38.21 percent, the lowest since January 2022. Since the second half of 2019, Turkey’s inflation rate has consistently been in double digits, with inflation accelerating at the fastest rate in 2022. High production costs In Turkey, domestic producer price indices have been continuously rising, which has directly resulted in a price increase in all consumer goods and services. Accordingly, the Consumer Price Index (CPI) in all commodity groups increased extremely since 2022. In the same year, the food and non-alcoholic beverages category had one of the highest inflation rates in the CPI. This particularly affected Turkish consumers, as these products accounted for the highest share of household expenditure in 2023. Soaring food prices Since 2020, food prices have increased significantly around the world, and Turkey is no exception. Although inflation has started to slow down recently, food prices in Turkey continue to go up steadily, increasing by 48.6 percent in November 2024 compared to the same month in the previous year. It is not surprising that food inflation has not simmered down, as the producer price index (PPI) of agricultural products followed a constant increasing trend in the country over the past few years.

The statistic shows the average inflation rate in Turkey from 1987 to 2023, with projections up until 2029. In 2023, the average inflation rate in Turkey was at around 53.86 percent compared to the previous year.

Turkey’s economy

With a continuously growing gross domestic product /GDP and thus a rising share in the global GDP adjusted for Purchasing Power Parity, Turkey’s economy is one of the largest worldwide. By 2030, Turkey is estimated to be one of the countries with the highest gross domestic product worldwide.

Import of goods figures and export figures are rising as well, however, the trade balance of Turkey has been in the negative range for several years now with a downwards trend which indicates a serious trade deficit – or in other words: an imbalance between export and import costs; the value of goods Turkey imports is a lot higher than the value of exported goods.

Main export partners of Turkey for textiles, automotive goods, iron and steel, among other goods, are mostly European countries, with Germany leading the ranking, followed by Iraq, Great Britain, Italy and France. The most important economic sector for Turkey is the services sector, especially the tourism sector, which has experienced a significant boost over the last decade. Thus, Turkey is now among the most popular destinations for visitors of all nations.

A look at gross domestic product /GDP growth in Turkey shows that the country suffered a brief setback during the economic crisis of 2008, but swiftly recovered and was back in the black by 2010. Turkey’s employment figures hardly suffered at all, they too recovered quickly and are now back to pre-crisis levels.

Core consumer prices in Turkey increased 40.21 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Turkey Core Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The Consumer Price Index in Turkey increased 2.27 percent in February of 2025 over the previous month. This dataset provides the latest reported value for - Turkey Inflation Rate MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The annual average of consumer price index (CPI) in Turkey went up each year for each commodity between 2015 and 2023. There was a significant increase in the consumer prices, especially from 2021 to 2022. By 2023, hotels, cafés & restaurants and alcoholic beverages and tobacco were the commodity groups reaching the highest index, amounting to 2664.1 and 2144.3, respectively.

Harmonised Inflation Rate YoY in Turkey decreased to 39.10 percent in February from 42.20 percent in January of 2025. This dataset includes a chart with historical data for Turkey Harmonised Inflation Rate YoY.

The latest inflation rate, i.e. the percent change in the CPI from a year ago to now, in Turkey was 39.1 percent. That number was released in . It shows a decrease from the inflation rate in the previous month when it stood at 42.17 percent. Compared to a year ago, we see a decrease from the inflation...

In recent years, the inflation rate in Turkey increased dramatically for consumer prices, with especially food prices recording very high rates. Over the observed period, the highest rate of inflation for food in Turkey was recorded in November 2022, with an increase of 102.6 percent. As of November 2024, food prices in the country increased by 48.6 percent compared to the same month in the previous year.

Turkey inflation rate for 2023 was 53.86%, a 18.45% decline from 2022.

• Turkey inflation rate for 2022 was 72.31%, a 52.71% increase from 2021.
• Turkey inflation rate for 2021 was 19.60%, a 7.32% increase from 2020.
• Turkey inflation rate for 2020 was 12.28%, a 2.9% decline from 2019.

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

In Turkey, especially the consumer prices in education, housing and hotels, cafés, and restaurants have risen significantly, reaching about 92.5, 74.5, and 59.4 percent in November 2024, respectively. Overall, the consumer price inflation rate totaled 47.1 percent in Turkey that month.

Inflation, monthly percent change in the CPI in Turkey, February, 2025 The most recent value is 2.28 percent as of February 2025, a decline compared to the previous value of 5.04 percent. Historically, the average for Turkey from February 1996 to February 2025 is 2 percent. The minimum of -1.44 percent was recorded in June 2011, while the maximum of 13.57 percent was reached in December 2021. | TheGlobalEconomy.com

Turkey TR: Inflation:(GDP) Gross Domestic ProductDeflator data was reported at 10.809 % in 2017. This records an increase from the previous number of 8.098 % for 2016. Turkey TR: Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 21.930 % from Dec 1961 (Median) to 2017, with 57 observations. The data reached an all-time high of 143.693 % in 1998 and a record low of 2.352 % in 1964. Turkey TR: Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Turkey – Table TR.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.; ; World Bank national accounts data, and OECD National Accounts data files.; Median;

Harmonised Inflation Rate MoM in Turkey decreased to 2.30 percent in February from 5 percent in January of 2025. This dataset includes a chart with historical data for Turkey Harmonised Inflation Rate MoM.

Cost of food in Turkey increased 35.11 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Turkey Food Inflation - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

As of October 2024, the inflation rate for the service producer price index (SPPI) stood at around 55.3 percent. The inflation rate of the service producer price index (SPPI) oscillated between January 2018 and October 2024 in Turkey. The annual rate of change for SPPI totaled 107 percent in September 2022, the highest inflation rate recorded during the provided time period.

Turkey Core Inflation Index: YoY data was reported at 12.872 % in Dec 2026. This records a decrease from the previous number of 15.625 % for Sep 2026. Turkey Core Inflation Index: YoY data is updated quarterly, averaging 20.015 % from Mar 1961 (Median) to Dec 2026, with 264 observations. The data reached an all-time high of 136.887 % in Mar 1995 and a record low of -0.143 % in Mar 1961. Turkey Core Inflation Index: YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Turkey – Table TR.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Quarterly. None

Key information about Turkey Consumer Price Index CPI growth

• Turkey Consumer Price Index (CPI) growth was measured at 39.0 % YoY in Feb 2025, compared with a rate of 42.1 % in the previous month.
• Turkey Consumer Price Index growth data is updated monthly, available from Jan 1956 to Feb 2025, with an averaged number of 19.3 % YoY.
• The data reached an all-time high of 125.9 % YoY in Jan 1995 and a record low of -3.0 % YoY in Nov 1960.

CEIC extends history for monthly Consumer Price Index Growth. Turkish Statistical Institute provides Consumer Price Index Growth with base 2003=100. Consumer Price Index Growth prior to January 2004 is sourced from the International Monetary Fund. [COVID-19-IMPACT]

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Turkey (CPGRLE01TRM657N) from Jan 1994 to Nov 2023 about Turkey, core, all items, CPI, inflation, price index, indexes, and price.

Key information about Turkey Core CPI Change

• Turkey Core CPI Change was reported at 39.469 % in Feb 2025.
• This records a decrease from the previous number of 42.078 % for Jan 2025.
• Turkey Core CPI Change data is updated monthly, averaging 9.129 % from Jan 2004 to Feb 2025, with 254 observations.
• The data reached an all-time high of 77.014 % in Oct 2022 and a record low of 2.308 % in Jun 2009.
• Turkey Core CPI Change data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Core CPI: Y-o-Y Growth: Monthly.

CEIC calculates Core Consumer Price Index Growth from monthly Core Consumer Price Index. Turkish Statistical Institute provides Core Consumer Price Index with base 2003=100. Core Consumer Price Index excludes Unprocessed Food, Alcoholic Beverages, Tobacco, Energy and Gold.