The inflation rate in Turkey rose to 14.03 percent in November of 2020 from 11.89 percent in October, beating market forecasts of 12.6 percent. It is the highest reading since August last year amid a falling lira. Food and non-alcoholic beverages inflation accelerated to an 18-month high of 21.08 percent from 16.5 percent. Inflation also rose for housing water, electricity, gas and other fuels (9.12 percent vs 8.37 percent), transportation (18.67 percent vs 13.92 percent), miscellaneous goods and services (29.42 percent vs 27.4 percent), and health (16.25 percent vs 15.6 percent). On a monthly basis, consumer prices increased 2.3 percent, following a 2.1 percent gain in October and above market expectations of a 1 percent rise. source: Turkish Statistical Institute
Inflation Rate in Turkey averaged 34.29 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 December of 2020.
Inflation Rate in Turkey is expected to be 13.00 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 8.20 in 12 months time. In the long-term, the Turkey Inflation Rate is projected to trend around 7.80 percent in 2021 and 5.70 percent in 2022, according to our econometric models.