Turkey Inflation Rate

Last Release

Mar 31, 2024

Actual

68.5

Units In

67.07

Frequency

Monthly

Next Release

May 03, 2024

Time to Release

28 Days 3 Hours

Highest	Lowest	Average	Date Range	Source
138.71 May 1980	-4.01 Jun 1968	35.11 %	1965-2024	Turkish Statistical Institute

In Turkey, the most important categories in the consumer price index are food and non-alcoholic beverages (23.7 percent of total weight); housing, water, electricity, gas and other fuels (15.9 percent of total weight) and transportation (14.3 percent). Others include: furnishings, household equipment and routine maintenance (8 percent); hotels, cafes and restaurants (7.5 percent); clothing and footwear (7.4 percent); alcoholic beverages and tobacco (5 percent). The index also includes miscellaneous goods and services (4.7 percent); communication (4.4 percent); recreation and culture (3.8 percent); health (2.7 percent) and education (2.6 percent).

Latest Updates

The annual inflation rate in Turkey rose to 68.50% in March 2024, up from 67.07% in the previous month but coming less than market forecasts of 69.10%. Still, it was the highest reading since November 2022, as prices rose faster for most subgroups, particularly transport (79.92% vs 77.98% in February), and housing & utilities (51.17% vs 49.07%). In addition, inflation increased for furnishings, household equipment, & routine maintenance (63.72% vs 62.92%), clothing & footwear (50.10% vs 43.44%), and hotels, cafes & restaurants (94.97% vs 94.78%). On the other hand, food inflation moderated to 70.41% in March compared to 71.12% in the prior period. Meanwhile, the core inflation picked up to 75.21% from 72.89% previously. On a monthly basis, the CPI grew 3.16%, slowing from a 4.53% increase in February, mainly due to the waning effect of salary adjustments and administered price rises at the start of the year.