Turkey’s annual inflation eased to 32.1% in June from 32.6% in May, though sharp increases in housing and education costs drove consumer prices higher, official data showed today.
Consumer prices in Turkey rose 0.99% month-on-month in June, slowing from 1.7% in May, according to the TUIK statistics agency.
On an annual basis, education prices rose 46.1%, while housing costs, including energy bills, increased 45.1%. Food prices were up 35.4% and healthcare costs rose 33.6%.
However, these official figures are disputed by independent economists from the Inflation Research Group (ENAG), who estimate that the year-on-year rise in consumer prices reached 51.4% in June.
The annual inflation rate, which has remained above 30% since December 2021, exceeded 75% in May 2024 before beginning to slow down.
In mid-May, the Turkish central bank raised its inflation forecasts, projecting annual inflation of 26% at the end of 2026, 15% at the end of 2027 and 9% at the end of 2028.
