Inflation Turkey 2004
Average inflation: 8.6%
Current Inflation
Inflation is very high at 8.6%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 10.6%. The lowest inflation was in June at 7.1%.
- Highest month
- January: 10.6%
- Lowest month
- June: 7.1%
- Difference
- 3.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 6.9%. The lowest price increase was in Food and non-alcoholic beverages with an average of 6.9%.
- Highest increase
- Food and non-alcoholic beverages: 6.9%
- Lowest increase
- Food and non-alcoholic beverages: 6.9%
Historical Context
Current inflation is 28.9% lower than the 5-year average of 37.5%. This approaches the lowest level since records began (8.6% in 2004).
- 5-year average
- 37.5%
- 10-year average
- 59.6%
- All-time high (1994)
- 103.2%
- All-time low (2004)
- 8.6%
Trend
Inflation shows a downward trend. Compared to 2003, inflation has fallen by +13.3 percentage point.
- Change vs. previous year
- -13.3 percentage points
- Largest monthly swing
- May: -18.9 percentage points
ECB Target
Inflation is 6.6% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €108.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 10.6% | -15.8 |
| February | 9.5% | -16.6 |
| March | 8.4% | -18.7 |
| April | 7.9% | -17.9 |
| May | 7.3% | -18.9 |
| June | 7.1% | -18.5 |
| July | 7.8% | -15.8 |
| August | 8.4% | -12.7 |
| September | 8.0% | -10.6 |
| October | 9.4% | -6.5 |
| November | 9.5% | -4.6 |
| December | 9.4% | -3.3 |
| Average | 8.6% |
Data source
Data from OECD. Last updated: 19/12/2025.