Türkiye’s annual inflation eases to 32.11% in June

Türkiye’s annual consumer inflation eased to 32.11% in June, slightly below market expectations, as monthly price increases remained limited amid slower energy‑linked pressure, official data showed on Friday. The consumer price index (CPI) rose 0.99% on a monthly basis, while inflation climbed 17.76% from the end of last year, according to the Turkish Statistical Institute. Economists had expected monthly inflation at 1.04%, with annual inflation projected at 32.17%, according to an Anadolu survey.

Key drivers

Housing, water, electricity, gas and other fuels posted the highest annual increase among the three largest expenditure groups, rising 45.14% year‑on‑year, down from 45.59% in May, contributing 5.92 percentage points. Food and non‑alcoholic beverages rose 35.45% annually, contributing 8.61 percentage points, while transportation prices increased 31.15%, adding 5.19 percentage points. On a monthly basis, housing and energy rose 2.30%, while food increased 0.17% and transportation edged down 0.05%, limiting overall upward pressure.

Outlook and official comments

Among the 174 subclasses, prices rose in 138, fell in 26, and remained unchanged in 10. The 12‑month average inflation rate stood at 32.03%. Finance Minister Mehmet Şimşek said the disinflation process, interrupted by rising global energy prices, has resumed. He noted that food prices rose only 0.2% monthly, benefiting from fresh produce trends, and that fuel price declines also supported the outlook. “We are sustaining our policies in line with our goal of achieving lasting price stability,” Şimşek added.