All News on Economics in Turkey

Current account deficit at $2.7 billion in April.

Turkey's current account deficit came in at $2.7 billion in April, widening by $1.2 billion in the same month of last year, the Central Bank said yesterday.

On the back of the April data, the country's 12-month rolling current account gap amounted to $25.7 billion.

Consumer price inflation at 73.5 percent in May

Consumer prices in Turkey increased by 2.98 percent in May, slowing from the 7.25 percent month-on-month increase recorded in April, according to data from the Turkish Statistical Institute (TÜİK) on June 3.

Retail prices rise 5.8 percent in Istanbul

Retail prices in Istanbul increased by 5.84 percent in May from April, the Istanbul Chamber of Commerce (İTO) said yesterday.

On an annual basis, retail prices exhibited an increase of 87.35 percent.

The rate of increase in retail prices on a monthly basis in the country's largest city, however, eased. In April, retail prices in Istanbul soared 11.36 percent from March.

Growth, inflation data due this week

Authorities will release crucial economic data this week, including growth for the first quarter and inflation for May.

On May 31, the Turkish Statistical Institute (TÜİK) will release the gross domestic product (GDP) figures for January-March.

Gov’t determined to fight inflation: Minister

Treasury and Finance Minister Nureddin Nebati has reiterated the government's commitment to bring inflation under control and take necessary steps.

Turkey inflation rises to nearly 70 percent in April

Turkey's annual consumer price inflation increased from 61.1 percent in March to 69.97 percent in April, the Turkish Statistical Institute (TÜİK) has reported.

Consumer prices increased by 7.25 percent on a monthly basis in April, after increasing by 5.46 percent in March. The monthly inflation rates were 11.1 percent in January and 4.8 percent in February.

Retail prices in Istanbul rises 11 percent

Retail prices in Istanbul increased by 11.4 percent in April from March, the Istanbul Chamber of Commerce (İTO) has said.
That came on top of the 6.29 percent rise in the retail prices in the country's largest city in April.

Food prices rose by 11.5 percent for an annual increase of 84.4 percent, while the increase in housing expenses was 10 percent, the İTO said.

Turkey's Central Bank forecasts Inflation Growth of 42.8% in 2022

The Central Bank of Turkey announced at a briefing on Thursday that it has revised its inflation forecasts and now expects them to grow by as much as 42.8% by the end of 2022, compared to a previous inflation forecast of 23.2%.

Prices to ease after April, minister says

Inflation rates in Turkey could peak in April before falling to single digits by the June 2023 general election, Treasury and Finance Minister Nureddin Nebati told Nikkei Asia in an interview published on Feb. 3.

Turkey’s inflation rate hits 48.7%

Turkey's annual inflation rate in January reached its highest level since April 2002, official data showed on Feb. 3.

Consumer prices surged by 48.69 percent from the same period in January last year, up from an annual rate of 36.1 percent in December, according to the Turkish statistics agency.

Turkey's assets abroad total $297 bln in August

Turkey's external assets stood at $297.4 billion by the end of August, up 16.4 percent from the end of 2020, according to Turkish Central Bank data released on Oct. 18.

Liabilities against non-residents fell 9.1 percent to $589.7 billion during the same period.