Skyline at golden hour in Turkey

Turkey Inflation October 2020

Turkey: Inflation hits highest level since June in October

Consumer prices increased 2.13% in October over the previous month, picking up from September’s 0.97% rise. October’s reading was the sharpest increase in prices since October 2018 and driven by a steep increase in clothing and footwear, and food and non-alcoholic beverages prices.

Inflation ticked up to 11.9% in October, which was up from September’s 11.7%. October’s figure represented the highest inflation rate since June. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 11.7% in October (September:11.5%). Core inflation rose to 11.5% from September’s 11.3%.

Muhammet Mercan, chief Turkey economist at ING, commented:

“Exchange rate developments, tax adjustments and elevated services inflation, which is highly sticky at current levels, will likely remain key challenges for the inflation outlook.”

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