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Turkey: Inflation drops in June
Latest reading: Inflation came in at 35.0% in June, which was down from May’s 35.4%. June’s result represented the lowest inflation rate since November 2021. The slowdown was largely driven by a slower rise in prices for food and non-alcoholic beverages. Moreover, prices for restaurants and hotels plus housing and utilities grew at a more subdued pace.
Annual average inflation fell to 43.2% in June (May: 45.8%). Meanwhile, core inflation ticked up to 35.6% in June from the previous month’s 35.4%.
Lastly, consumer prices rose 1.37% from the previous month in June, coming in below the 1.53% rise logged in May. June’s result marked the weakest reading since December 2024.
Outlook: Inflation is projected to decline further in the coming quarters, curbed by prior monetary policy easing and a high base of comparison.
