Skyline at golden hour in Turkey

Turkey Inflation September 2023

Turkey: Inflation comes in at highest level since December 2022 in September

Inflation came in at 61.5% in September, up from August’s 58.9%. September’s result represented the highest inflation rate since December 2022. Looking at the details of the release, prices for food and non-alcoholic beverages and transport rose at a faster pace in September. That said, housing and utilities price growth moderated.

The trend pointed down, with annual average inflation coming in at 55.3% in September (August: 56.3%). Meanwhile, core inflation rose to 68.9% in September, from August’s 64.8%.

Lastly, consumer prices rose 4.75% in September over the previous month, which was below August’s 9.09% increase. September’s result marked the weakest reading since June.

Our panelists see inflation hovering around current levels in Q4, boosted by sustained lira weakness, increases in wages and tax adjustments. That said, recent interest rate hikes will keep a lid on price pressures.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest X Download Fullscreen