Turkish Statistical Institute

Following the promising June CPI print, international banks have started to lower their inflation expectations for Türkiye.

Last month, consumer prices increased by 1.64 percent from May, which was lower than expected. The annual inflation rate slowed from 75.45 percent to 71.6 percent.

Several key macroeconomic data will be released this week, including current account, industrial production and unemployment rate.

Investors' interest in Türkiye continues to increase thanks to the economic program the government implements, Finance Minister Mehmet Şimşek has said.

"Our cost of borrowing is falling while [Türkiye's] CDS risk premium continues to decline," Şimşek wrote on social media platform X.

Consumer prices rose by 1.64 percent monthly in June, bringing the annual inflation rate to 71.6 percent, down from 75.45 percent in May, data from the Turkish Statistical Institute (TÜİK) have shown.

The monthly inflation was lower than the market expectation for a 2.2 percent increase in consumer prices. This was also the lowest monthly inflation recorded in 2024.

Retail prices in Istanbul increased by 3.42 percent in June after rising 3.6 percent in the previous month, data from the Istanbul Chamber of Commerce (İTO) has shown.

The annual increase in retail prices also slowed from 82.2 percent in May to 82.1 percent last month.

The Turkish government is poised to take action to address the record-low fertility rates by implementing a series of measures, including extending maternity leave to one year, improving salaries and providing nursery or rental support, local media has reported.

Türkiye's olive producers, who faced significant challenges last year with low yield and olive oil prices surpassing 300 Turkish Liras ($9), are optimistic about the upcoming season.

The Turkish Statistical Institute (TÜİK) forecasts a remarkable 90.8 percent increase in olive production.

Consumer morale declined for the first time since February in June as households' expectations for the general economic outlook and their financial situation deteriorated.

Thousands of couples in Türkiye will tie the knot this summer at a time when wedding costs have almost doubled from a year ago.

Some 600,000 weddings take place a year, according to the data from the Turkish Statistical Institute (TÜİK).

The number of paid employees in the industry, construction and trade-services sectors increased by 4.6 percent annually in April to 15.3 million, according to data from the Turkish Statistical Institute (TÜİK).