content tagged with inflation

Turkey’s inflation drops slightly to 47.09% in November

Turkey’s inflation drops slightly to 47.09% in November

The decline fell short of expectations considering the Central Bank’s year-end forecast of 44%.

3 December 2024

Turkey’s inflation exceeds expectations in September

Turkey’s inflation exceeds expectations in September

The rising inflation dampens expectations of a central bank interest rate cut in the near future.

Turkey's inflation rate slows in August, education costs surge

Turkey's inflation rate slows in August, education costs surge

The annual inflation rate was 51.97% according to official statistics while an alternative calculation indicates 90.35%.

3 September 2024

Turkey’s monthly inflation rate spikes in July

Turkey’s monthly inflation rate spikes in July

Finance Minister Mehmet Şimşek acknowledges the monthly increase in inflation but says it’s ‘temporary.’

Turkey ranks fourth in global inflation rates

Turkey ranks fourth in global inflation rates

Only Argentina, Syria and Lebanon surpassed Turkey in inflation rate.

Turkey’s inflation surges to 68.5% in March

Turkey’s inflation surges to 68.5% in March

The ENAG calculated the inflation rate at 124.63%, nearly twice as high as the official rate.

Volga Kuşçuoğlu

Turkey’s food inflation spikes despite global decline

Turkey’s food inflation spikes despite global decline

The steep increase in food, particularly meat prices, is attributed to flawed policies that allow large suppliers and grocery chains to manipulate the market.

19 March 2024 Volga Kuşçuoğlu

Turkey's official inflation stands at 67% in February

Turkey's official inflation stands at 67% in February

According to the independent ENAG group, the inflation rate was 122%.

Central Bank keeps policy rate unchanged: It had been raised eight times

Central Bank keeps policy rate unchanged: It had been raised eight times

The Central Bank, which had previously decided on eight consecutive interest rate hikes, this time kept the bank's policy rate unchanged at 45 percent under the leadership of the new Governor Fatih Karahan.

22 February 2024

'Inflation swallowed up retiree pensions in 2023'

CHP ANKARA MP SEMRA DİNÇER:

'Inflation swallowed up retiree pensions in 2023'

CHP Ankara Deputy Semra Dinçer, who prepared a report on how 2023 went for retirees, said, "Inflation swallowed up the retiree pension. Retirees have become unable to afford meat."

9 February 2024

ENAG January inflation rate doubles TurkStat

ENAG January inflation rate doubles TurkStat

The inflation rate was 129% according to ENAG and 64.86 according to TurkStat.

5 February 2024

Gap between minimum wage and poverty line closing

Gap between minimum wage and poverty line closing

According to TÜRK-İŞ data, the poverty line increased by 617 lira in one month, reaching 15,048 lira. The difference with the minimum wage decreased to 1,954 lira before salaries were deposited according to the newly determined level of minimum wage, which is 17,002 lira as of January 2024.

1 February 2024

Central Bank survey anticipates year-end inflation at 42%

Central Bank survey anticipates year-end inflation at 42%

The policy rate expectation for the current month's end is set at 45%.

19 January 2024

Two-fold difference between inflation rate announced by TÜİK and ENAG

Two-fold difference between inflation rate announced by TÜİK and ENAG

According to TÜİK (Turkish Statistical Institute), the annual inflation is 64.77%, while according to ENAG (alternative research institution), it is 127.21%. With the rates announced by TÜİK, the salary increases for retirees and civil servants have also become clear.

Nearly four million under pressure of execution due to debts

Nearly four million under pressure of execution due to debts

CHP MP Ömer Fethi Gürer stated that 3 million 818 thousand people are under the pressure of execution due to debts, and 616,908 people have been tracked by banks because they couldn't pay their credit card debts.

15 November 2023

Central Bank raises interest rates by 500 basis points

Central Bank raises interest rates by 500 basis points

The Monetary Policy Committee increased the policy rate, which is the one-week repo auction interest rate, from 30% to 35%.

26 October 2023

Turkey's official inflation rate rises by over 10 points in August

Turkey's official inflation rate rises by over 10 points in August

The Central Bank had raised its year-end inflation forecast to 58% in July. Inflation has already exceeded this rate, having surged by 20 points in the past two months.

4 September 2023

'Inflation to start declining in 2024'

'Inflation to start declining in 2024'

Central Bank Governor Hafize Gaye Erkan stated that they are working to lay the groundwork for inflation to start declining in 2024.

İstanbul district governor bans opposition party's 'price hikes' exhibition

İstanbul district governor bans opposition party's 'price hikes' exhibition

The CHP exhibition aimed to visually compare various products' prices before and after the elections held in May, illustrating the extent of price increases for the public to see.

Turkey's official inflation rate jumps to 47.8% in July

Turkey's official inflation rate jumps to 47.8% in July

According to ENAG's calculations, the inflation rate was over 122.8%. The food inflation rate is over 60 percent.

İstanbul sees highest monthly surge in retail prices since April 2022

İstanbul sees highest monthly surge in retail prices since April 2022

The price increase was nearly 10 percent in July, with the city's annual inflation rate exceeding 63 percent, according to the İstanbul Chamber of Commerce.

Turkey's Central Bank raises year-end inflation forecast from 22% to 58%

Turkey's Central Bank raises year-end inflation forecast from 22% to 58%

The inflation rate for food prices is projected to reach 61 at the end of the year, according to the governor of the bank.

Turkey leads in struggling to make ends meet among OECD countries

Turkey leads in struggling to make ends meet among OECD countries

Nearly half of the families in the country fear that they may not be able to cover their fundamental needs amid high costs of living, shows a new report by the organization.

Cost of dining out in İstanbul nearly doubles in a year

Cost of dining out in İstanbul nearly doubles in a year

While the patronage in high-end venues has remained unaffected, businesses catering to lower-income groups have experienced a decline, according to a İstanbul Chamber of Commerce report.

Turkey's statistical authority under fire as inflation at lowest level in 18 months

Turkey's statistical authority under fire as inflation at lowest level in 18 months

While the official inflation rate has dropped to 38.21 percent, the food inflation for the poorest segment of the public was measured at over 84 percent by a labor union confederation.

Cost of living in İstanbul rises 64 percent in a year

Cost of living in İstanbul rises 64 percent in a year

The highest rise in June was in the price of meat, compared to last December. The price of meat and minced meat has risen 68.64 percent in the last six months.

Turkey's inflation rate over 108 percent, says ENAG

Turkey's inflation rate over 108 percent, says ENAG

While the ENAG has released its calculations, the announcement of the official inflation figures, which will affect the pay rises for civil servants and retirees, has been delayed.

Union confederation expresses concerns over Turkey's ongoing minimum wage talks

Union confederation expresses concerns over Turkey's ongoing minimum wage talks

These worries come amidst contentious official inflation statistics and a rapidly depreciating lira.

Earthquake victims hit with massive utility bills as invoicing resumes

Earthquake victims hit with massive utility bills as invoicing resumes

After being put on hold until May 31, utility bill payments totaling tens of thousands of liras recommenced in the February 6 earthquake-stricken area, a YSP deputy remarks.

Minimum wage negotiations to begin amidst lira depreciation

Minimum wage negotiations to begin amidst lira depreciation

The Minimum Wage Determination Committee's decisions will significantly impact minimum wage and related compensations like unemployment benefits, disability allowances, and internship allowances.

The cost of exiting the crisis for Turkey

The cost of exiting the crisis for Turkey

The increase in the exchange rate will raise the costs for industries heavily dependent on imported raw materials and intermediate goods. To balance this, reducing labor costs will be presented as a necessity.

12 June 2023 Bülent Danışoğlu

Erdoğan's free gas pledge impacts inflation numbers, undermines wage negotiations

Erdoğan's free gas pledge impacts inflation numbers, undermines wage negotiations

TurkStat's reported annual inflation rate of 39.6% in May will have implications for upcoming wage deal talks, a trade union asserts.

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