Turkey Inflation Rate

Last Release

Oct 31, 2024

Actual

48.58

Units In

49.38

Frequency

Monthly

Next Release

Dec 03, 2024

Time to Release

27 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
138.71 May 1980	-4.01 Jun 1968	35.37 %	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 fell to 48.58% in October 2024, down from 49.38% in September but above market expectations of 48.20%. Still, this marked the fifth consecutive slowdown in consumer prices growth and the lowest level since July 2023, as inflation eased for most sub-indexes. Prices mainly moderated for housing, water, electricity, gas and other fuels (89.39% vs 97.87% in September), transport (26.14% vs 26.60%), and furnishing, household equipment, routine maintenance of the house (39.22% vs 40.29%). In contrast, inflation went up food and non-alcoholic beverages, reaching 45.28%, up from 43.72% in the previous month. Meanwhile, core inflation fell to 47.75%, the lowest since June 2023, down from 49.10% in September. On a monthly basis, the CPI rose 2.88%, easing from a 2.97% increase in the prior period.